Macy’s Inc (NYSE:M) has earned an average recommendation of “Hold” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $33.62.

M has been the topic of several analyst reports. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, July 18th. Standpoint Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Morgan Stanley boosted their price target on shares of Macy’s from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 target price on shares of Macy’s and gave the stock a “hold” rating in a report on Thursday, August 16th. Finally, Deutsche Bank upped their target price on shares of Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 16th.

In related news, Director William H. Lenehan purchased 2,092 shares of Macy’s stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average price of $35.78 per share, for a total transaction of $74,851.76. Following the transaction, the director now directly owns 8,060 shares in the company, valued at $288,386.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider C Elisa D. Garcia sold 4,628 shares of the company’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $35.85, for a total transaction of $165,913.80. Following the transaction, the insider now owns 10,727 shares in the company, valued at approximately $384,562.95. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of M. BlackRock Inc. lifted its position in Macy’s by 1.6% during the 3rd quarter. BlackRock Inc. now owns 28,532,647 shares of the company’s stock valued at $990,939,000 after purchasing an additional 460,868 shares during the period. Bank of New York Mellon Corp lifted its position in Macy’s by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock valued at $367,847,000 after purchasing an additional 25,971 shares during the period. FMR LLC lifted its position in Macy’s by 2.1% during the 2nd quarter. FMR LLC now owns 7,740,157 shares of the company’s stock valued at $289,715,000 after purchasing an additional 162,184 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Macy’s by 20.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,900,221 shares of the company’s stock valued at $170,185,000 after purchasing an additional 820,168 shares during the period. Finally, Northern Trust Corp lifted its position in Macy’s by 5.5% during the 2nd quarter. Northern Trust Corp now owns 4,576,899 shares of the company’s stock valued at $171,314,000 after purchasing an additional 238,683 shares during the period. Institutional investors and hedge funds own 91.27% of the company’s stock.

Macy’s stock traded down $0.01 on Tuesday, hitting $37.78. The company’s stock had a trading volume of 5,786,947 shares, compared to its average volume of 7,887,151. The firm has a market capitalization of $11.60 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 1.13 and a beta of 0.62. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. Macy’s has a one year low of $18.80 and a one year high of $41.99.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.20. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. Analysts predict that Macy’s will post 3.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s payout ratio is 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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Analyst Recommendations for Macy`s (NYSE:M)

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