Macy’s Inc (M) Given Average Rating of “Hold” by Brokerages

Macy’s Inc (NYSE:M) has received a consensus recommendation of “Hold” from the twenty-four analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $31.03.

A number of research analysts recently commented on the company. Zacks Investment Research cut Macy’s from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Royal Bank of Canada set a $35.00 price objective on Macy’s and gave the company a “hold” rating in a report on Thursday, May 17th. Susquehanna Bancshares upgraded Macy’s from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $43.00 in a report on Tuesday, May 22nd. UBS Group upgraded Macy’s from a “neutral” rating to a “positive” rating in a report on Tuesday, May 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a report on Wednesday, May 16th.

Shares of M stock traded down $0.81 during trading hours on Friday, reaching $37.56. The company had a trading volume of 10,334,508 shares, compared to its average volume of 10,831,234. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.52 and a quick ratio of 0.48. The firm has a market capitalization of $12.18 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.74. Macy’s has a 12-month low of $17.41 and a 12-month high of $41.33.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 16th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.12. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. The firm had revenue of $5.54 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. equities research analysts expect that Macy’s will post 3.79 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, June 14th. Macy’s’s dividend payout ratio (DPR) is 40.05%.

In related news, Chairman Jeffrey Gennette acquired 10,000 shares of Macy’s stock in a transaction dated Thursday, April 12th. The shares were acquired at an average cost of $29.10 per share, for a total transaction of $291,000.00. Following the completion of the purchase, the chairman now owns 89,303 shares in the company, valued at $2,598,717.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.36% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in M. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Macy’s in the fourth quarter valued at $104,000. Delpha Capital Management LLC purchased a new position in Macy’s in the fourth quarter valued at $117,000. Point72 Asia Hong Kong Ltd increased its holdings in Macy’s by 10,087.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock valued at $118,000 after buying an additional 3,934 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Macy’s in the fourth quarter valued at $119,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Macy’s by 78.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock valued at $120,000 after buying an additional 1,787 shares during the last quarter. Institutional investors and hedge funds own 88.46% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

Analyst Recommendations for Macy`s (NYSE:M)

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