Macy’s, Inc. (NYSE:M) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Macy’s, Inc. (NYSE:M) have received an average recommendation of “Reduce” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.50.

Several research analysts have issued reports on M shares. Morgan Stanley lifted their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Guggenheim started coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. Zacks Research cut Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. The Goldman Sachs Group lifted their target price on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Finally, Citigroup restated a “neutral” rating on shares of Macy’s in a research note on Wednesday, February 18th.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the sale, the executive vice president owned 51,161 shares of the company’s stock, valued at $1,223,771.12. This trade represents a 62.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Macy’s during the second quarter valued at approximately $58,743,000. Schroder Investment Management Group raised its stake in Macy’s by 104.5% during the 2nd quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock valued at $112,260,000 after buying an additional 4,920,821 shares during the last quarter. Marshall Wace LLP purchased a new stake in Macy’s during the 4th quarter valued at $69,562,000. Goldman Sachs Group Inc. lifted its holdings in shares of Macy’s by 67.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,823,034 shares of the company’s stock valued at $150,448,000 after buying an additional 2,750,115 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Macy’s by 160.5% in the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after buying an additional 2,639,132 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of NYSE:M opened at $18.29 on Wednesday. The business has a fifty day moving average price of $21.48 and a 200-day moving average price of $19.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The company has a market capitalization of $4.86 billion, a PE ratio of 10.82 and a beta of 1.51. Macy’s has a 1-year low of $9.76 and a 1-year high of $24.41.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.22. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. Macy’s’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, equities analysts expect that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a $0.1915 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.77 dividend on an annualized basis and a yield of 4.2%. Macy’s’s payout ratio is presently 43.20%.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.