Macy’s (NYSE:M) Price Target Raised to $9.00 at UBS Group

Macy’s (NYSE:M) had its target price hoisted by UBS Group from $8.00 to $9.00 in a research report released on Monday morning,Benzinga reports. They currently have a sell rating on the stock.

A number of other brokerages also recently issued reports on M. Citigroup reiterated a “neutral” rating on shares of Macy’s in a research note on Wednesday, February 18th. Guggenheim began coverage on Macy’s in a research report on Tuesday, December 9th. They set a “neutral” rating for the company. Jefferies Financial Group began coverage on Macy’s in a report on Wednesday, January 14th. They set a “buy” rating and a $27.00 price target on the stock. Wall Street Zen lowered Macy’s from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group boosted their price target on shares of Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $20.00.

Macy’s Stock Performance

Shares of M stock opened at $17.97 on Monday. The firm has a 50-day moving average of $21.19 and a 200-day moving average of $19.89. The company has a market cap of $4.78 billion, a P/E ratio of 10.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy’s has a one year low of $9.76 and a one year high of $24.41.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.1915 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.77 dividend on an annualized basis and a yield of 4.3%. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio (DPR) is presently 43.20%.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the sale, the executive vice president directly owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently bought and sold shares of M. Strengthening Families & Communities LLC bought a new position in Macy’s in the 4th quarter valued at $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Macy’s in the 4th quarter valued at about $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Macy’s during the 3rd quarter valued at about $31,000. Smartleaf Asset Management LLC increased its position in shares of Macy’s by 51.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Macy’s by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after purchasing an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.