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

Macy’s, Inc. (NYSE:M) has been given a consensus rating of “Reduce” by the fourteen analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $18.90.

M has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research report on Monday, December 29th. The Goldman Sachs Group lifted their price target on shares of Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Wall Street Zen cut shares of Macy’s from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Telsey Advisory Group reissued a “market perform” rating and issued a $20.00 price objective (down from $25.00) on shares of Macy’s in a research report on Wednesday, March 18th. Finally, Citigroup reduced their price objective on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th.

Macy’s Stock Down 2.9%

Macy’s stock opened at $17.95 on Friday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 7.74 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. Macy’s has a twelve month low of $9.76 and a twelve month high of $24.41. The stock’s fifty day simple moving average is $19.91 and its 200-day simple moving average is $20.14.

Macy’s (NYSE:M) last released its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. During the same period last year, the business posted $1.80 earnings per share. Macy’s’s revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.1915 dividend. This represents a $0.77 annualized dividend and a yield of 4.3%. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, March 13th. Macy’s’s dividend payout ratio is currently 33.19%.

Institutional Trading of Macy’s

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Macy’s by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock valued at $2,047,000 after acquiring an additional 45,149 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Macy’s by 5.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock worth $14,019,000 after acquiring an additional 55,821 shares in the last quarter. Focus Partners Wealth lifted its stake in Macy’s by 33.1% during the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after purchasing an additional 14,489 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Macy’s by 49.6% in the second quarter. Cetera Investment Advisers now owns 24,300 shares of the company’s stock valued at $283,000 after purchasing an additional 8,053 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Macy’s by 1.6% in the second quarter. Legal & General Group Plc now owns 687,280 shares of the company’s stock valued at $8,014,000 after purchasing an additional 11,085 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other 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.