Macy’s Inc (NYSE:M) Given Average Rating of “Hold” by Brokerages
Shares of Macy’s Inc (NYSE:M) have been assigned an average recommendation of “Hold” from the twenty-seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $31.43.
Several brokerages have issued reports on M. Royal Bank Of Canada set a $28.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a research report on Saturday, May 13th. Cowen and Company set a $29.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a research report on Saturday, May 13th. BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Group LLC lowered their price objective on shares of Macy’s from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, June 9th. Finally, Northcoast Research reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, May 11th.
In related news, Director William H. Lenehan bought 4,390 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now owns 5,968 shares in the company, valued at $135,592.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Gennette bought 13,085 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in M. Penserra Capital Management LLC increased its stake in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares in the last quarter. Winslow Evans & Crocker Inc. increased its stake in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock valued at $164,000 after buying an additional 3,910 shares in the last quarter. First Manhattan Co. increased its stake in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after buying an additional 29 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Macy’s by 3.2% in the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock valued at $193,000 after buying an additional 200 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.
Shares of Macy’s (M) opened at 22.68 on Wednesday. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 12.23 and a beta of 0.84. Macy’s has a 12-month low of $20.85 and a 12-month high of $45.41. The firm has a 50-day moving average of $22.65 and a 200 day moving average of $27.77.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts forecast that Macy’s will post $3.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were issued a $0.3775 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $1.51 dividend on an annualized basis and a yield of 6.66%. Macy’s’s payout ratio is 81.62%.
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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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