Macy’s, Inc. (NYSE:M) Receives Consensus Recommendation of “Hold” from Analysts

Macy’s, Inc. (NYSE:MGet Free Report) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $17.45.

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley cut their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Thursday, March 28th. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, March 18th.

Read Our Latest Stock Analysis on M

Macy’s Price Performance

NYSE:M opened at $19.06 on Wednesday. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 51.51 and a beta of 2.15. The firm’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $16.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy’s (NYSE:MGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period last year, the company posted $1.88 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.1737 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.65%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is currently 186.49%.

Insider Activity

In other Macy’s news, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the completion of the sale, the director now owns 994,301 shares in the company, valued at approximately $20,303,626.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, valued at approximately $437,937.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the sale, the director now owns 994,301 shares of the company’s stock, valued at approximately $20,303,626.42. The disclosure for this sale can be found here. Insiders sold 218,424 shares of company stock worth $4,405,507 in the last quarter. 1.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Macy’s

A number of hedge funds have recently bought and sold shares of M. Point72 Asset Management L.P. boosted its holdings in Macy’s by 1,054.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after acquiring an additional 9,906,912 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Macy’s by 171.1% in the 2nd quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock worth $89,603,000 after buying an additional 3,523,368 shares during the last quarter. Norges Bank purchased a new position in shares of Macy’s in the 4th quarter worth about $62,529,000. Vanguard Group Inc. boosted its holdings in shares of Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Macy’s by 196.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock worth $71,309,000 after buying an additional 2,287,287 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

(Get Free Report

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.

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Analyst Recommendations for Macy's (NYSE:M)

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