Macy’s, Inc. (NYSE:M) Receives Consensus Recommendation of “Reduce” from Brokerages

Macy’s, Inc. (NYSE:M) has been given a consensus recommendation of “Reduce” by the fifteen brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.50.

M has been the topic of several recent analyst reports. Guggenheim assumed coverage on Macy’s in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Telsey Advisory Group upped their target price on Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. Finally, Evercore raised their price target on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research note on Friday, December 5th.

Macy’s Stock Down 2.8%

Shares of NYSE M opened at $18.29 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. Macy’s has a 52 week low of $9.76 and a 52 week high of $24.41. The firm’s fifty day moving average is $21.48 and its 200 day moving average is $19.73. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 10.82 and a beta of 1.51.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.22. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 EPS. On average, equities research analysts expect that Macy’s will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.1915 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, March 13th. This represents a $0.77 annualized dividend and a yield of 4.2%. Macy’s’s dividend payout ratio (DPR) is currently 43.20%.

Insider Activity at Macy’s

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Strengthening Families & Communities LLC bought a new stake in Macy’s during the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new position in shares of Macy’s during the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Macy’s in the 3rd quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its position in shares of Macy’s by 51.7% in 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. Finally, Bessemer Group Inc. grew its stake in shares of Macy’s by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after buying an additional 592 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

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.