Macy’s Inc (M) Downgraded by Vetr Inc. to Buy
A number of other research analysts have also commented on M. Zacks Investment Research lowered Macy’s from a hold rating to a sell rating in a research note on Tuesday, April 25th. Wunderlich restated a buy rating and issued a $24.00 target price on shares of Macy’s in a research note on Friday, May 5th. Gordon Haskett initiated coverage on Macy’s in a research note on Tuesday, May 9th. They issued a hold rating and a $29.00 target price for the company. Jefferies Group LLC reiterated a hold rating and issued a $27.00 price target on shares of Macy’s in a research report on Thursday, May 11th. Finally, Telsey Advisory Group lowered their price target on Macy’s from $36.00 to $30.00 and set an outperform rating on the stock in a research report on Friday, May 12th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $32.05.
Macy’s (NYSE M) traded down 0.84% during mid-day trading on Thursday, hitting $23.73. 4,406,314 shares of the stock were exchanged. Macy’s has a one year low of $20.85 and a one year high of $45.41. The company has a 50-day moving average price of $22.73 and a 200-day moving average price of $27.34. The company has a market cap of $7.23 billion, a P/E ratio of 12.80 and a beta of 0.84.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, May 11th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Macy’s will post $3.32 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were issued a dividend of $0.3775 per share. The ex-dividend date was Tuesday, June 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.31%. Macy’s’s payout ratio is presently 81.62%.
In other Macy’s news, Director William H. Lenehan bought 4,390 shares of Macy’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the purchase, the director now owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Gennette bought 13,085 shares of Macy’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the purchase, the insider now directly owns 89,053 shares in the company, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of M. Penserra Capital Management LLC boosted its stake in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares during the last quarter. Financial Architects Inc boosted its position in shares of Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after buying an additional 4,200 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares in the last quarter. Edge Wealth Management LLC bought a new position in shares of Macy’s during the second quarter valued at $142,000. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock valued at $164,000 after buying an additional 3,910 shares in the last quarter. Institutional investors own 84.61% 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.
To view Vetr’s full report, visit Vetr’s official website.
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