Macy’s, Inc. (NYSE:M) Receives $18.90 Consensus Target Price from Analysts

Macy’s, Inc. (NYSE:M) has earned an average recommendation of “Reduce” from the fourteen research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.90.

Several equities research analysts have commented on the stock. UBS Group upped their target price on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. TD Cowen lowered their target price on shares of Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Citigroup lowered their target price on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Macy’s in a research note on Wednesday, March 18th.

Macy’s Stock Up 0.1%

Shares of NYSE:M opened at $20.69 on Monday. Macy’s has a 52 week low of $10.54 and a 52 week high of $24.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The company has a market capitalization of $5.46 billion, a PE ratio of 8.92 and a beta of 1.47. The company has a 50 day moving average price of $18.79 and a two-hundred day moving average price of $20.45.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.55 by $0.12. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts forecast that Macy’s will post 2.09 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.1915 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.7%. Macy’s’s dividend payout ratio is currently 33.19%.

Insider Activity at Macy’s

In related news, EVP Tracy M. Preston sold 5,271 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $94,456.32. Following the completion of the transaction, the executive vice president owned 28,773 shares of the company’s stock, valued at approximately $515,612.16. This trade represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $179,379.20. Following the completion of the transaction, the executive vice president directly owned 108,008 shares of the company’s stock, valued at approximately $1,935,503.36. This trade represents a 8.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 94,967 shares of company stock worth $1,705,276 over the last three months. 1.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Macy’s by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,475,647 shares of the company’s stock valued at $298,035,000 after purchasing an additional 329,675 shares in the last quarter. RWC Asset Management LLP grew its position in Macy’s by 0.6% in the fourth quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company’s stock valued at $241,782,000 after purchasing an additional 62,839 shares in the last quarter. American Century Companies Inc. grew its position in Macy’s by 6.6% in the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock valued at $193,004,000 after purchasing an additional 669,729 shares in the last quarter. Schroder Investment Management Group grew its position in Macy’s by 1.1% in the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock valued at $174,608,000 after purchasing an additional 110,548 shares in the last quarter. Finally, State Street Corp grew its position in Macy’s by 0.5% in the second quarter. State Street Corp now owns 9,420,372 shares of the company’s stock valued at $111,547,000 after purchasing an additional 45,997 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

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.