Macy’s Inc (NYSE:M) has earned an average rating of “Hold” from the twenty-four analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.78.
A number of equities research analysts have issued reports on M shares. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, October 3rd. Goldman Sachs Group started coverage on shares of Macy’s in a report on Monday, September 3rd. They set a “sell” rating and a $33.00 target price on the stock. ValuEngine lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Cowen boosted their price target on shares of Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. Finally, Royal Bank of Canada set a $39.00 price target on shares of Macy’s and gave the company a “hold” rating in a research report on Thursday, August 16th.
In related news, President Harry A. Lawton III sold 28,684 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the transaction, the president now directly owns 54,722 shares in the company, valued at $1,972,728.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Lenehan bought 3,154 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was bought at an average price of $31.74 per share, with a total value of $100,107.96. Following the completion of the transaction, the director now directly owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The disclosure for this purchase can be found here. Insiders sold 233,312 shares of company stock valued at $7,817,972 over the last quarter. 2.36% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Princeton Capital Management LLC purchased a new stake in Macy’s during the third quarter valued at about $104,000. Baker Ellis Asset Management LLC purchased a new stake in Macy’s during the second quarter valued at about $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Macy’s during the second quarter valued at about $116,000. First Hawaiian Bank purchased a new stake in Macy’s during the third quarter valued at about $147,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Macy’s during the second quarter valued at about $150,000. Institutional investors own 92.58% of the company’s stock.
M stock traded down $0.68 during midday trading on Friday, reaching $31.69. 6,180,525 shares of the company’s stock traded hands, compared to its average volume of 9,528,997. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.35 and a quick ratio of 0.24. Macy’s has a 52 week low of $22.47 and a 52 week high of $41.99. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.93 and a beta of 0.56.
Macy’s (NYSE:M) last issued its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Macy’s will post 4.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.51 annualized dividend and a yield of 4.76%. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.
Macy’s Company Profile
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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