Macy’s, Inc. (NYSE:M) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Macy’s, Inc. (NYSE:M) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $13.20.

Several equities research analysts recently issued reports on the stock. Barclays assumed coverage on shares of Macy’s in a report on Monday, April 28th. They set a “cautious” rating and a $12.00 price target on the stock. UBS Group reduced their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 7th. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup reissued a “neutral” rating and set a $12.00 target price (up from $11.00) on shares of Macy’s in a report on Thursday, May 29th. Finally, Cowen reissued a “hold” rating on shares of Macy’s in a report on Friday, March 7th.

Insider Activity

In related news, CEO Antony Spring sold 20,868 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. The trade was a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the transaction, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. The trade was a 37.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,092 shares of company stock valued at $305,482. 1.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the period. Summit Securities Group LLC raised its holdings in Macy’s by 106.0% during the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock worth $28,000 after buying an additional 38,800 shares during the last quarter. Headlands Technologies LLC acquired a new position in Macy’s during the first quarter worth $29,000. Bessemer Group Inc. raised its holdings in Macy’s by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock worth $58,000 after buying an additional 2,839 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Macy’s during the fourth quarter worth $111,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Price Performance

M stock opened at $11.16 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. Macy’s has a 12 month low of $9.76 and a 12 month high of $20.47. The firm has a market cap of $3.03 billion, a P/E ratio of 5.66 and a beta of 1.74. The company’s 50-day moving average price is $11.61 and its two-hundred day moving average price is $13.46.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.38 billion. Macy’s had a net margin of 2.45% and a return on equity of 16.34%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. On average, analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, June 13th. Macy’s’s dividend payout ratio is currently 37.06%.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.