Macy’s, Inc. (NYSE:M) Given Consensus Rating of “Hold” by Analysts

Macy’s, Inc. (NYSE:M) has been given a consensus rating of “Hold” by the seven analysts that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.43.

A number of brokerages have recently weighed in on M. Evercore ISI dropped their price target on 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. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Morgan Stanley lowered their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, StockNews.com began coverage on shares of Macy’s in a research note on Tuesday. They issued a “hold” rating on the stock.

Insider Activity at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated 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 directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Antony Spring sold 18,981 shares of the business’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 completion of the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,665 shares of company stock worth $842,372. 2.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of Macy’s in the 1st quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macy’s during the 1st quarter worth about $42,000. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the 1st quarter worth approximately $50,000. EntryPoint Capital LLC purchased a new position in Macy’s in the first quarter valued at approximately $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Macy’s during the 2nd quarter worth $57,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 1.7 %

Shares of NYSE M opened at $15.43 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $15.70 and a 200 day moving average price of $17.84. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 514.33 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Macy’s will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Macy’s Company Profile

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.