Macy’s (NYSE:M) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a research report report published on Tuesday. The firm issued a hold rating on the stock.

A number of other research analysts have also recently weighed in on M. Morgan Stanley dropped their price objective on shares of Macy’s from $18.00 to $17.00 and set an equal weight rating for the company in a report on Thursday, August 22nd. Evercore ISI dropped their price target on shares of Macy’s from $22.00 to $17.00 and set an in-line rating for the company in a research note on Tuesday, July 16th. Finally, Telsey Advisory Group reaffirmed a market perform rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $20.43.

Macy’s Stock Up 2.8 %

NYSE:M opened at $15.80 on Tuesday. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $15.66 and its two-hundred day moving average is $17.81. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 526.67 and a beta of 2.11.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm 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%. Macy’s’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. Research analysts anticipate that Macy’s will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.1737 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.40%. Macy’s’s payout ratio is 2,300.00%.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’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 $6,598,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,665 shares of company stock valued at $842,372. Insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after purchasing an additional 1,379,476 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Macy’s by 1.3% in the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after acquiring an additional 68,300 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after acquiring an additional 747,542 shares during the period. Marshall Wace LLP lifted its position in Macy’s by 1,539.5% in the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after purchasing an additional 3,319,337 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Macy’s by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock valued at $61,162,000 after buying an additional 37,254 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

About Macy’s

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.