BMO Capital Markets Analysts Give Macy’s Inc (M) a $35.00 Price Target

BMO Capital Markets set a $35.00 target price on Macy’s Inc (NYSE:M) in a research report released on Sunday morning. The firm currently has a buy rating on the stock.

A number of other research firms have also issued reports on M. Royal Bank Of Canada set a $23.00 target price on shares of Macy’s and gave the stock a hold rating in a report on Friday, August 11th. BidaskClub raised shares of Macy’s from a sell rating to a hold rating in a research report on Wednesday, July 19th. UBS AG reissued a neutral rating and issued a $21.00 price objective (down from $23.00) on shares of Macy’s in a research report on Monday, August 14th. ValuEngine downgraded shares of Macy’s from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of Macy’s from a hold rating to a sell rating in a research report on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $26.25.

Macy’s (NYSE:M) opened at $19.98 on Friday. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. Macy’s has a fifty-two week low of $17.41 and a fifty-two week high of $45.41. The company has a market cap of $6,090.00, a P/E ratio of 6.51, a PEG ratio of 0.67 and a beta of 0.86.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. research analysts anticipate that Macy’s will post 3.39 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is 66.52%.

In related news, Director John A. Bryant acquired 9,825 shares of Macy’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares of the company’s stock, valued at $199,644. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC grew its holdings in shares of Macy’s by 25.8% during the third quarter. Neuberger Berman Group LLC now owns 1,167,671 shares of the company’s stock worth $25,479,000 after buying an additional 239,320 shares in the last quarter. PVG Asset Management Corp grew its holdings in shares of Macy’s by 20.4% during the third quarter. PVG Asset Management Corp now owns 264,718 shares of the company’s stock worth $5,776,000 after buying an additional 44,765 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Macy’s by 14.2% during the third quarter. California Public Employees Retirement System now owns 898,504 shares of the company’s stock worth $19,605,000 after buying an additional 111,804 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Macy’s by 28.8% during the third quarter. Janney Montgomery Scott LLC now owns 34,051 shares of the company’s stock worth $743,000 after buying an additional 7,617 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Macy’s by 221.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,352 shares of the company’s stock worth $291,000 after buying an additional 9,202 shares in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

About Macy’s

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

Analyst Recommendations for Macy`s (NYSE:M)

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