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

Shares of Macy’s, Inc. (NYSE:M) have earned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $19.50.

M has been the subject of a number of recent research reports. StockNews.com began coverage on shares of Macy’s in a research report on Saturday. They set a “hold” rating for the company. Evercore ISI cut their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Finally, TD Cowen upped their price target 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.

Insider Activity at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders have sold 44,665 shares of company stock worth $842,372 over the last quarter. 2.77% of the stock is currently owned by company insiders.

Institutional Trading of Macy’s

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP grew its holdings in shares of Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after buying an additional 3,319,337 shares in the last quarter. Norges Bank purchased a new stake in shares of Macy’s in the fourth quarter worth approximately $62,529,000. Dimensional Fund Advisors LP boosted its holdings in shares of Macy’s by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after purchasing an additional 1,685,986 shares during the period. Crestline Management LP purchased a new position in Macy’s during the fourth quarter valued at approximately $32,192,000. Finally, Invenomic Capital Management LP acquired a new position in Macy’s in the 4th quarter valued at approximately $19,372,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Stock Down 1.7 %

NYSE:M opened at $14.61 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 487.00 and a beta of 2.18. Macy’s has a one year low of $10.54 and a one year high of $22.10. The stock has a 50-day simple moving average of $16.66 and a 200 day simple moving average of $18.44.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. During the same period in the prior year, the company posted $0.26 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts predict that Macy’s will post 2.73 EPS for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Macy’s Company Profile

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.