ValuEngine upgraded shares of Macy’s Inc (NYSE:M) from a hold rating to a buy rating in a report published on Monday.

M has been the topic of a number of other research reports. Cowen and Company reiterated a hold rating and issued a $23.00 price target on shares of Macy’s in a research report on Thursday, September 28th. Jefferies Group LLC reissued a hold rating and issued a $21.00 price target (down previously from $24.00) on shares of Macy’s in a research note on Friday, August 11th. Deutsche Bank AG raised their price objective on Macy’s from $24.00 to $25.00 and gave the stock a hold rating in a research report on Tuesday, August 8th. Royal Bank Of Canada set a $23.00 price objective on Macy’s and gave the stock a hold rating in a research report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) cut their price objective on Macy’s from $28.00 to $25.00 and set a neutral rating on the stock in a research note on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $27.63.

Shares of Macy’s (NYSE:M) opened at 20.89 on Monday. The company has a 50 day moving average of $21.23 and a 200-day moving average of $24.19. Macy’s has a one year low of $19.32 and a one year high of $45.41. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 9.50 and a beta of 0.87.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. Macy’s’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, analysts expect that Macy’s will post $3.39 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.51 dividend on an annualized basis and a yield of 7.23%. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.

In other Macy’s news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of M. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Macy’s by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock valued at $526,000 after buying an additional 65 shares during the last quarter. Cleararc Capital Inc. raised its position in Macy’s by 1.0% in the 1st quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock valued at $379,000 after buying an additional 123 shares during the last quarter. Advantus Capital Management Inc raised its position in Macy’s by 0.6% in the 1st quarter. Advantus Capital Management Inc now owns 30,420 shares of the company’s stock valued at $902,000 after buying an additional 169 shares during the last quarter. Pacer Advisors Inc. raised its position in Macy’s by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock valued at $193,000 after buying an additional 200 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Macy’s by 1.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock valued at $439,000 after buying an additional 200 shares during the last quarter. Institutional investors own 81.97% of the company’s stock.

About Macy’s

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.

Analyst Recommendations for Macy`s (NYSE:M)

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