Vetr upgraded shares of Macy’s Inc. (NYSE:M) from a buy rating to a strong-buy rating in a research note released on Monday. They currently have $42.00 price target on the stock.
M has been the topic of several other reports. Citigroup Inc. raised shares of Macy’s from a neutral rating to a buy rating and upped their price objective for the company from $35.42 to $44.00 in a report on Wednesday, September 14th. Guggenheim started coverage on shares of Macy’s in a report on Friday, September 30th. They set a buy rating and a $45.00 price objective on the stock. Credit Suisse Group AG downgraded shares of Macy’s from an outperform rating to a neutral rating and set a $40.00 price objective on the stock. in a report on Wednesday, September 28th. Deutsche Bank AG raised shares of Macy’s from a sell rating to a hold rating in a report on Thursday, August 25th. Finally, Cowen and Company reaffirmed a market perform rating on shares of Macy’s in a report on Saturday, June 25th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $43.98.
Shares of Macy’s (NYSE:M) opened at 37.68 on Monday. The company’s 50 day moving average is $36.97 and its 200 day moving average is $36.50. Macy’s has a one year low of $29.94 and a one year high of $52.48. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 15.11 and a beta of 0.89.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate 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%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Equities research analysts predict that Macy’s will post $3.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio (DPR) is 60.64%.
A number of hedge funds and other institutional investors have recently modified their holdings of M. Vanguard Group Inc. raised its stake in Macy’s by 25.1% in the second quarter. Vanguard Group Inc. now owns 23,202,656 shares of the company’s stock worth $779,840,000 after buying an additional 4,647,970 shares during the period. Sasco Capital Inc. CT bought a new stake in Macy’s during the second quarter worth $82,299,000. Scopia Capital Management LP bought a new stake in Macy’s during the first quarter worth $106,608,000. Carlson Capital L P raised its stake in Macy’s by 547.0% in the second quarter. Carlson Capital L P now owns 2,080,600 shares of the company’s stock worth $69,929,000 after buying an additional 1,759,017 shares during the period. Finally, Prudential PLC raised its stake in Macy’s by 44.7% in the second quarter. Prudential PLC now owns 4,431,800 shares of the company’s stock worth $148,953,000 after buying an additional 1,369,500 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.
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.