Macy's Inc (M) Lowered to “Hold” at Vetr Inc.
Macy's Inc (NYSE:M) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Thursday. They presently have a $30.62 target price on the stock. Vetr‘s target price would suggest a potential upside of 2.03% from the stock’s previous close.
A number of other brokerages also recently issued reports on M. Jefferies Group LLC set a $35.00 price target on Macy's and gave the company a “hold” rating in a report on Thursday, January 5th. Goldman Sachs Group Inc set a $39.00 price target on Macy's and gave the company a “hold” rating in a report on Thursday, January 5th. Royal Bank of Canada set a $35.00 price target on Macy's and gave the company a “hold” rating in a report on Thursday, January 5th. Deutsche Bank AG downgraded Macy's from a “buy” rating to a “hold” rating and reduced their price target for the company from $47.00 to $34.00 in a report on Thursday, January 5th. Finally, Telsey Advisory Group reduced their target price on Macy's from $42.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, January 5th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.31.
Macy's (NYSE:M) traded up 3.16% on Thursday, hitting $30.01. The company’s stock had a trading volume of 5,348,654 shares. The firm has a 50 day moving average of $29.78 and a 200-day moving average of $34.39. The stock has a market cap of $9.13 billion, a PE ratio of 15.08 and a beta of 0.79. Macy's has a 12 month low of $27.72 and a 12 month high of $45.41.
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Macy's (NYSE:M) last released its earnings results on Tuesday, February 21st. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.06. Macy's had a return on equity of 24.83% and a net margin of 2.63%. The company earned $8.52 billion during the quarter, compared to analyst estimates of $8.61 billion. During the same quarter in the previous year, the company posted $2.09 EPS. Macy's’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Macy's will post $3.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th were paid a $0.3775 dividend. The ex-dividend date was Monday, March 13th. This represents a $1.51 annualized dividend and a dividend yield of 5.03%. Macy's’s dividend payout ratio (DPR) is 69.27%.
In other Macy's news, EVP Felicia Williams sold 1,697 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $48,449.35. Following the completion of the sale, the executive vice president now owns 1,697 shares in the company, valued at approximately $48,449.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Molly Langenstein sold 1,251 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total value of $35,716.05. Following the completion of the sale, the insider now owns 6,414 shares of the company’s stock, valued at approximately $183,119.70. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of large investors have recently modified their holdings of M. Morgan Stanley raised its position in shares of Macy's by 25.5% in the third quarter. Morgan Stanley now owns 2,074,249 shares of the company’s stock worth $76,851,000 after buying an additional 421,576 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Macy's by 6.4% in the third quarter. Hsbc Holdings PLC now owns 594,903 shares of the company’s stock worth $21,932,000 after buying an additional 35,817 shares during the last quarter. SkyBridge Capital II LLC raised its position in shares of Macy's by 10.5% in the third quarter. SkyBridge Capital II LLC now owns 351,611 shares of the company’s stock worth $13,027,000 after buying an additional 33,553 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of Macy's during the fourth quarter worth $4,618,000. Finally, ARGI Investment Services LLC raised its position in shares of Macy's by 6.4% in the third quarter. ARGI Investment Services LLC now owns 55,957 shares of the company’s stock worth $2,073,000 after buying an additional 3,381 shares during the last quarter. Institutional investors and hedge funds own 86.28% of the company’s stock.
Macy's Company Profile
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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