StockNews.com Begins Coverage on Macy’s (NYSE:M)

StockNews.com started coverage on shares of Macy’s (NYSE:MFree Report) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the stock.

Several other equities analysts also recently issued reports on the stock. TD Cowen upped their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a hold rating in a research note on Wednesday, May 22nd. Morgan Stanley dropped their price target on shares of Macy’s from $21.00 to $20.00 and set an equal weight rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Macy’s from $25.00 to $27.00 and gave the company an overweight rating in a report on Wednesday, May 22nd. The Goldman Sachs Group boosted their price objective on shares of Macy’s from $16.00 to $22.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Finally, Telsey Advisory Group reaffirmed a market perform rating and issued a $21.00 target price on shares of Macy’s in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $17.70.

View Our Latest Stock Analysis on Macy’s

Macy’s Trading Down 0.2 %

Shares of Macy’s stock opened at $18.29 on Wednesday. The company has a 50-day moving average of $19.06 and a two-hundred day moving average of $19.24. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.06 billion, a PE ratio of 609.67 and a beta of 2.16.

Macy’s (NYSE:MGet Free Report) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. On average, research analysts anticipate that Macy’s will post 2.79 EPS for the current fiscal year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, June 14th. Macy’s’s payout ratio is currently 2,300.00%.

Insider Buying and Selling at Macy’s

In related news, EVP Danielle L. Kirgan sold 3,274 shares of Macy’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $20.28, for a total value of $66,396.72. Following the completion of the transaction, the executive vice president now directly owns 311,820 shares in the company, valued at $6,323,709.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Danielle L. Kirgan sold 3,274 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $20.28, for a total transaction of $66,396.72. Following the transaction, the executive vice president now directly owns 311,820 shares in the company, valued at $6,323,709.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antony Spring sold 3,075 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $62,361.00. Following the sale, the chief executive officer now owns 228,750 shares of the company’s stock, valued at approximately $4,639,050. The disclosure for this sale can be found here. Insiders have sold 95,165 shares of company stock worth $1,888,528 in the last ninety days. 2.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in M. Vanguard Group Inc. grew its position in Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Macy’s by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after buying an additional 1,685,986 shares in the last quarter. AQR Capital Management LLC increased its position in Macy’s by 48.9% in the 3rd quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock valued at $61,211,000 after acquiring an additional 1,730,307 shares during the period. American Century Companies Inc. raised its stake in Macy’s by 20.8% during the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after acquiring an additional 565,269 shares in the last quarter. Finally, Norges Bank acquired a new position in Macy’s during the 4th quarter worth $62,529,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

(Get Free Report)

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.

Read More

Analyst Recommendations for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.