Macy’s (NYSE:M) Upgraded at Zacks Research

Zacks Research upgraded shares of Macy’s (NYSE:M) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. UBS Group boosted their price objective on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a research report on Friday, March 27th. Telsey Advisory Group reiterated a “market perform” rating and issued a $20.00 price objective on shares of Macy’s in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Macy’s in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Macy’s has a consensus rating of “Reduce” and an average target price of $18.90.

Macy’s Price Performance

Shares of M opened at $19.14 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The stock has a 50 day simple moving average of $19.30 and a 200 day simple moving average of $20.24. Macy’s has a 52-week low of $10.54 and a 52-week high of $24.41. The firm has a market capitalization of $5.05 billion, a PE ratio of 8.25 and a beta of 1.51.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. During the same period in the previous year, the firm earned $1.80 EPS. Macy’s’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a $0.1915 dividend. This represents a $0.77 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, March 13th. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 10,010 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $179,379.20. Following the sale, the executive vice president owned 108,008 shares in the company, valued at approximately $1,935,503.36. The trade was a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $129,525.76. Following the completion of the sale, the chief executive officer owned 21,590 shares in the company, valued at $386,892.80. The trade was a 25.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 94,967 shares of company stock worth $1,705,276. 1.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently bought and sold shares of the company. Strengthening Families & Communities LLC bought a new stake in Macy’s in the 4th quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Macy’s during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its stake in shares of Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Macy’s during the 3rd quarter worth approximately $31,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Macy’s by 35.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after purchasing an additional 486 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.