Macy’s Inc. (M) Raised to Strong-Buy at Vetr Inc.
Macy’s Inc. (NYSE:M) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The firm currently has a $42.00 price target on the stock. Vetr‘s target price indicates a potential upside of 18.08% from the stock’s previous close.
M has been the subject of a number of other reports. Stifel Nicolaus reissued a “hold” rating on shares of Macy’s in a research report on Thursday, August 11th. Zacks Investment Research raised Macy’s from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a research report on Tuesday, July 26th. Standpoint Research began coverage on Macy’s in a research report on Thursday, August 25th. They issued a “buy” rating and a $72.00 target price for the company. Deutsche Bank AG upped their target price on Macy’s from $37.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Finally, Goldman Sachs Group Inc. upped their target price on Macy’s from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.98.
Shares of Macy’s (NYSE:M) opened at 35.57 on Monday. Macy’s has a 52-week low of $29.94 and a 52-week high of $52.48. The stock has a 50 day moving average price of $36.51 and a 200-day moving average price of $36.27. The stock has a market capitalization of $10.97 billion, a PE ratio of 14.26 and a beta of 0.89.
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Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The business earned $5.87 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, equities research analysts anticipate that Macy’s will post $3.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio (DPR) is 60.64%.
Several large investors have recently bought and sold shares of M. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Macy’s by 48.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,058 shares of the company’s stock valued at $1,061,000 after buying an additional 7,905 shares during the period. Ngam Advisors L.P. boosted its position in shares of Macy’s by 39.8% in the first quarter. Ngam Advisors L.P. now owns 25,971 shares of the company’s stock worth $1,145,000 after buying an additional 7,392 shares during the last quarter. Menta Capital LLC purchased a new position in shares of Macy’s during the first quarter worth $344,000. BB&T Securities LLC boosted its position in shares of Macy’s by 1,797.1% in the first quarter. BB&T Securities LLC now owns 327,742 shares of the company’s stock worth $14,450,000 after buying an additional 310,466 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Macy’s by 0.3% in the first quarter. State Street Corp now owns 13,766,498 shares of the company’s stock worth $606,956,000 after buying an additional 39,136 shares during the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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