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

Shares of Macy’s, Inc. (NYSE:M) have received an average rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.10.

Several analysts have commented on the stock. Evercore ISI decreased their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. StockNews.com began coverage on shares of Macy’s in a report on Tuesday, August 6th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upped their price target on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Tuesday, May 21st. Finally, TD Cowen increased their price target on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd.

Macy’s Price Performance

M opened at $15.81 on Tuesday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 527.00 and a beta of 2.18. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The business’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $18.84.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Macy’s will post 2.79 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Friday, June 14th. Macy’s’s payout ratio is 2,300.00%.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold 43,464 shares of company stock worth $824,081 over the last 90 days. 2.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Macy’s

Several hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its position in shares of Macy’s by 42.4% during the 4th quarter. Raymond James & Associates now owns 21,432 shares of the company’s stock valued at $431,000 after buying an additional 6,378 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Macy’s during the fourth quarter worth $147,000. DekaBank Deutsche Girozentrale lifted its holdings in Macy’s by 136.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 7,603 shares of the company’s stock valued at $153,000 after purchasing an additional 4,391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Macy’s in the fourth quarter valued at about $1,527,000. Finally, Impax Asset Management Group plc acquired a new stake in shares of Macy’s in the fourth quarter valued at about $825,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.