Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Macy’s (NYSE:MFree Report) in a research note published on Tuesday morning. The brokerage issued a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. TD Cowen increased their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a hold rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price target on Macy’s from $25.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, May 22nd. Telsey Advisory Group restated a market perform rating and issued a $21.00 price objective on shares of Macy’s in a report on Tuesday, May 21st. The Goldman Sachs Group lifted their target price on Macy’s from $16.00 to $22.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Finally, Morgan Stanley cut their price target on shares of Macy’s from $21.00 to $20.00 and set an equal weight rating for the company in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Macy’s has a consensus rating of Hold and a consensus target price of $17.70.

Check Out Our Latest Research Report on M

Macy’s Stock Down 1.3 %

Shares of Macy’s stock opened at $19.01 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. Macy’s has a 1-year low of $10.54 and a 1-year high of $22.10. The business’s fifty day moving average price is $19.20 and its two-hundred day moving average price is $19.14. The company has a market capitalization of $5.25 billion, a P/E ratio of 633.67 and a beta of 2.16.

Macy’s (NYSE:MGet Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. As a group, research analysts forecast that Macy’s will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Insider Buying and Selling at Macy’s

In related news, Director Jeffrey Gennette sold 78,567 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the transaction, the director now owns 994,301 shares of the company’s stock, valued at approximately $20,303,626.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the transaction, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Griscom sold 2,969 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at $437,937.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,424 shares of company stock valued at $4,405,507. 2.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glassman Wealth Services boosted its stake in shares of Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares during the period. Lindbrook Capital LLC boosted its position in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after purchasing an additional 944 shares during the last quarter. Riverview Trust Co acquired a new stake in Macy’s during the first quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new position in Macy’s in the first quarter valued at about $42,000. Finally, Fortitude Family Office LLC acquired a new position in Macy’s in the 4th quarter worth about $50,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

About Macy’s

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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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