Macy’s Inc (M) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Macy’s Inc (NYSE:M) from a sell rating to a hold rating in a report released on Saturday.
M has been the topic of a number of other research reports. Vetr cut Macy’s from a buy rating to a hold rating and set a $30.62 target price on the stock. in a research report on Wednesday, May 3rd. Jefferies Group LLC reiterated a hold rating and set a $27.00 target price on shares of Macy’s in a research report on Thursday, May 11th. Wunderlich reiterated a buy rating and set a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Zacks Investment Research raised Macy’s from a sell rating to a hold rating in a report on Tuesday, May 9th. Finally, Gordon Haskett assumed coverage on Macy’s in a report on Tuesday, May 9th. They set a hold rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $27.63.
Macy’s (NYSE:M) opened at 20.94 on Friday. The company has a market cap of $6.38 billion, a P/E ratio of 9.52 and a beta of 0.84. Macy’s has a 12-month low of $19.32 and a 12-month high of $45.41. The firm has a 50-day moving average price of $22.08 and a 200-day moving average price of $26.15.
Macy’s (NYSE:M) last released its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the business posted $0.51 earnings per share. Macy’s’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Macy’s will post $3.38 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.51 annualized dividend and a yield of 7.21%. Macy’s’s dividend payout ratio (DPR) is 68.64%.
In other Macy’s news, Director John A. Bryant bought 9,825 shares of Macy’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the acquisition, the director now owns 9,825 shares of the company’s stock, valued at approximately $199,644. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Gennette bought 13,085 shares of Macy’s stock in a transaction that occurred on 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 acquisition, the insider now directly owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 27,300 shares of company stock worth $599,686. 1.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of M. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Macy’s during the second quarter worth $335,000. Penserra Capital Management LLC boosted its stake in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the last quarter. Ropes Wealth Advisors LLC boosted its stake 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 worth $142,000 after buying an additional 1,866 shares during the last quarter. Ffcm LLC boosted its stake in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 81.67% 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.
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