M has been the subject of a number of other reports. Zacks Investment Research downgraded Macy’s from a hold rating to a sell rating in a report on Wednesday, October 11th. BidaskClub downgraded Macy’s from a hold rating to a sell rating in a report on Saturday, August 19th. Vetr downgraded Macy’s from a strong-buy rating to a buy rating and set a $26.02 price target for the company. in a report on Thursday, July 27th. BMO Capital Markets reaffirmed an outperform rating on shares of Macy’s in a report on Thursday, September 14th. Finally, ValuEngine downgraded Macy’s from a buy rating to a hold rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $27.18.
Macy’s (NYSE M) opened at 21.33 on Friday. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 9.70 and a beta of 0.87. The company’s 50-day moving average price is $21.25 and its 200 day moving average price is $23.27. Macy’s has a 12 month low of $19.32 and a 12 month high of $45.41.
Macy’s (NYSE:M) last released its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. Macy’s’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. Analysts predict that Macy’s will post $3.39 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Thursday, September 14th. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the transaction, the director now owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in M. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Macy’s during the 2nd quarter worth approximately $335,000. Ffcm LLC boosted its stake in shares of Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Macy’s by 51.1% during the 2nd quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after acquiring an additional 1,880 shares in the last quarter. Financial Architects Inc boosted its stake in shares of Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Edge Wealth Management LLC purchased a new stake in shares of Macy’s during the 2nd quarter worth approximately $142,000. Institutional investors own 82.20% of the company’s stock.
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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