Macy’s Inc (NYSE:M)‘s stock had its “hold” rating reaffirmed by research analysts at Royal Bank Of Canada in a research note issued on Monday. They presently have a $28.00 price objective on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 22.11% from the company’s current price.

A number of other research analysts also recently commented on the stock. Cowen and Company set a $29.00 price objective on shares of Macy’s and gave the company a “hold” rating in a research note on Saturday, May 13th. Jefferies Group LLC dropped their price objective on shares of Macy’s from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, June 9th. Goldman Sachs Group, Inc. (The) dropped their price objective on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 7th. Northcoast Research reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, May 11th. Finally, Vetr raised shares of Macy’s from a “sell” rating to a “hold” rating and set a $30.27 price objective for the company in a research note on Tuesday, March 14th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.89.

Analyst Recommendations for Macy`s (NYSE:M)

Macy’s (NYSE M) traded down 0.83% during midday trading on Monday, reaching $22.74. 7,490,069 shares of the company traded hands. The firm has a market capitalization of $6.92 billion, a PE ratio of 12.27 and a beta of 0.77. The company’s 50-day moving average price is $24.62 and its 200 day moving average price is $30.55. Macy’s has a 12 month low of $21.51 and a 12 month high of $45.41.

Macy’s (NYSE:M) last released its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.12. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. Macy’s’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. On average, equities analysts anticipate that Macy’s will post $3.30 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend is Tuesday, June 13th. Macy’s’s dividend payout ratio (DPR) is currently 81.62%.

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In other news, insider Molly Langenstein sold 1,251 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total transaction of $35,716.05. Following the completion of the transaction, the insider now directly owns 6,414 shares in the company, valued at approximately $183,119.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Felicia Williams sold 1,697 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $48,449.35. Following the transaction, the executive vice president now owns 1,697 shares of the company’s stock, valued at $48,449.35. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Macy’s by 1.8% in the fourth quarter. Comerica Bank now owns 89,496 shares of the company’s stock valued at $2,674,000 after buying an additional 1,546 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Macy’s by 34.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,452,330 shares of the company’s stock valued at $123,642,000 after buying an additional 888,558 shares during the period. FMR LLC boosted its position in shares of Macy’s by 4.8% in the fourth quarter. FMR LLC now owns 7,685,983 shares of the company’s stock valued at $275,236,000 after buying an additional 350,088 shares during the period. Marshall Wace LLP boosted its position in shares of Macy’s by 25.4% in the fourth quarter. Marshall Wace LLP now owns 180,194 shares of the company’s stock valued at $6,453,000 after buying an additional 36,541 shares during the period. Finally, Aviva PLC boosted its position in shares of Macy’s by 9.9% in the fourth quarter. Aviva PLC now owns 201,782 shares of the company’s stock valued at $7,228,000 after buying an additional 18,182 shares during the period. Hedge funds and other institutional investors own 86.32% of the company’s stock.

About Macy’s

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.

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