Vetr downgraded shares of Macy’s Inc. (NYSE:M) from a strong-buy rating to a buy rating in a research note released on Monday. The brokerage currently has $42.00 price target on the stock.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Macy’s from a sell rating to a hold rating and set a $40.00 price objective for the company in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. lifted their price objective on shares of Macy’s from $34.00 to $39.00 and gave the stock a neutral rating in a research note on Friday, August 12th. Telsey Advisory Group lifted their price objective on shares of Macy’s from $36.00 to $42.00 and gave the stock a market perform rating in a research note on Friday, August 12th. RBC Capital Markets reaffirmed a sector perform rating and set a $40.00 price target (up from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Finally, Stifel Nicolaus reaffirmed a hold rating on shares of Macy’s in a research note on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $43.98.
Macy’s (NYSE:M) opened at 36.80 on Monday. Macy’s has a 1-year low of $29.94 and a 1-year high of $52.48. The company has a market capitalization of $11.35 billion, a P/E ratio of 14.76 and a beta of 0.89. The company has a 50-day moving average of $36.61 and a 200-day moving average of $36.33.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. Macy’s’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Equities analysts expect that Macy’s will post $3.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio (DPR) is currently 60.64%.
Hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Bank increased its stake in Macy’s by 11.2% in the third quarter. Washington Trust Bank now owns 2,947 shares of the company’s stock valued at $109,000 after buying an additional 297 shares during the period. Americafirst Capital Management LLC acquired a new stake in Macy’s during the second quarter valued at approximately $133,000. Advisory Services Network LLC increased its stake in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock valued at $161,000 after buying an additional 565 shares during the period. First Manhattan Co. increased its stake in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock valued at $166,000 after buying an additional 1,796 shares during the period. Finally, Private Advisor Group LLC increased its stake in Macy’s by 39.2% in the second quarter. Private Advisor Group LLC now owns 5,971 shares of the company’s stock valued at $201,000 after buying an additional 1,683 shares during the period. 83.27% of the stock is currently owned by institutional investors and hedge funds.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.