Macy’s, Inc. (NYSE:M) Receives Average Rating of “Hold” from Analysts

Macy’s, Inc. (NYSE:M) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.50.

A number of research analysts have weighed in on M shares. StockNews.com started coverage on shares of Macy’s in a report on Monday. They issued a “hold” rating for the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Evercore ISI dropped their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Finally, Morgan Stanley dropped their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd.

Insider Activity

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,665 shares of company stock valued at $842,372. Company insiders own 2.77% of the company’s stock.

Institutional Investors Weigh In On Macy’s

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Macy’s by 44.9% in the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after purchasing an additional 160,093 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after buying an additional 877 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Macy’s in the 1st quarter valued at $1,043,000. WINTON GROUP Ltd boosted its holdings in shares of Macy’s by 96.4% in the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after buying an additional 52,337 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new position in shares of Macy’s in the 4th quarter valued at $19,372,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Trading Down 0.5 %

Shares of Macy’s stock opened at $15.07 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The firm has a fifty day moving average price of $15.83 and a 200 day moving average price of $18.04. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The stock has a market cap of $4.17 billion, a PE ratio of 502.33 and a beta of 2.11.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts predict that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

About Macy’s

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.