Macy’s (NYSE:M) Shares Down 3.4%

Shares of Macy’s, Inc. (NYSE:MGet Free Report) fell 3.4% on Monday . The company traded as low as $18.90 and last traded at $18.97. 2,788,012 shares changed hands during trading, a decline of 58% from the average session volume of 6,682,071 shares. The stock had previously closed at $19.64.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on M. JPMorgan Chase & Co. raised their price objective on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Tuesday, May 21st. TD Cowen raised their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com assumed coverage on shares of Macy’s in a research report on Friday, July 5th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.70.

Check Out Our Latest Research Report on Macy’s

Macy’s Trading Down 0.2 %

The stock has a market capitalization of $5.20 billion, a PE ratio of 627.67 and a beta of 2.18. The business’s 50-day moving average is $19.08 and its two-hundred day moving average is $19.22. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38.

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

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Glassman Wealth Services raised its stake in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after purchasing an additional 743 shares during the last quarter. Lindbrook Capital LLC raised its stake in Macy’s by 253.1% in the 4th 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 position in Macy’s in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new position in Macy’s in the 1st quarter valued at about $42,000. Finally, Fortitude Family Office LLC acquired a new position in Macy’s in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

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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