Several other research analysts also recently issued reports on M. UBS AG reissued a neutral rating and set a $21.00 price objective (down from $23.00) on shares of Macy’s in a research report on Monday, August 14th. Citigroup Inc. lowered their price objective on shares of Macy’s from $23.00 to $21.00 and set a neutral rating on the stock in a research report on Friday, June 9th. Telsey Advisory Group lowered their price objective on shares of Macy’s from $30.00 to $25.00 and set an outperform rating on the stock in a research report on Wednesday, June 7th. Jefferies Group LLC reduced their target price on shares of Macy’s from $27.00 to $24.00 and set a hold rating for the company in a research note on Friday, June 9th. Finally, BidaskClub upgraded shares of Macy’s from a sell rating to a hold rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $27.63.
Macy’s (NYSE M) opened at 22.10 on Monday. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 10.05 and a beta of 0.83. The firm has a 50-day moving average of $21.59 and a 200 day moving average of $24.87. Macy’s has a 12-month low of $19.32 and a 12-month high of $45.41.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. On average, analysts predict that Macy’s will post $3.38 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 6.83%. Macy’s’s dividend payout ratio (DPR) is 68.64%.
In other Macy’s news, Director John A. Bryant purchased 9,825 shares of Macy’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares in the company, valued at approximately $199,644. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sentry Investment Management LLC raised its holdings in Macy’s by 1.0% in the second quarter. Sentry Investment Management LLC now owns 23,637 shares of the company’s stock valued at $549,000 after acquiring an additional 245 shares in the last quarter. Toronto Dominion Bank raised its holdings in Macy’s by 25.7% in the second quarter. Toronto Dominion Bank now owns 103,151 shares of the company’s stock valued at $2,397,000 after acquiring an additional 21,069 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Macy’s by 66.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 38,430 shares of the company’s stock valued at $892,000 after acquiring an additional 15,324 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in Macy’s in the second quarter valued at $374,000. Finally, Nomura Holdings Inc. acquired a new stake in Macy’s in the second quarter valued at $1,859,000. 81.69% of the stock is currently owned by hedge funds and other institutional investors.
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.
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