Macy’s (M) PT Set at $35.00 by BMO Capital Markets

BMO Capital Markets set a $35.00 target price on Macy’s (NYSE:M) in a research note issued to investors on Sunday, November 12th. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Vetr raised shares of Macy’s from a buy rating to a strong-buy rating and set a $26.51 target price on the stock in a research report on Wednesday, August 2nd. Cowen restated a market perform rating and set a $23.00 price objective (down from $26.00) on shares of Macy’s in a research note on Friday, August 11th. BidaskClub cut shares of Macy’s from a hold rating to a sell rating in a research note on Saturday, August 19th. ValuEngine upgraded shares of Macy’s from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Macy’s from a hold rating to a sell rating in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $25.37.

Shares of Macy’s (NYSE M) traded up $0.39 on Friday, reaching $24.19. 14,776,397 shares of the company were exchanged, compared to its average volume of 10,085,979. Macy’s has a one year low of $17.41 and a one year high of $43.79. The company has a market cap of $7,370.00, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.86. 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 (NYSE:M) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the business posted $0.17 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. equities analysts predict that Macy’s will post 3.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.24%. Macy’s’s dividend payout ratio is presently 66.52%.

A number of large investors have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. purchased a new position in Macy’s in the second quarter valued at approximately $335,000. Ffcm LLC increased its stake in Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after purchasing an additional 3,615 shares during the last quarter. Penserra Capital Management LLC increased its stake in Macy’s by 51.1% in the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after purchasing an additional 1,880 shares during the last quarter. Financial Architects Inc increased its stake in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new position in shares of Macy’s during the second quarter worth approximately $142,000. 82.20% of the stock is currently owned by hedge funds and other institutional investors.

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Macy’s Company Profile

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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