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

Macy’s, Inc. (NYSE:M) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.20.

Several analysts recently commented on the stock. Cowen reissued a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Barclays assumed coverage on shares of Macy’s in a research note on Monday, April 28th. They set a “cautious” rating and a $12.00 target price for the company. The Goldman Sachs Group lowered shares of Macy’s from a “buy” rating to a “neutral” rating and cut their target price for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. New Street Research set a $13.00 target price on shares of Macy’s in a research note on Thursday, March 6th. Finally, UBS Group reduced their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th.

Macy’s Trading Up 3.0%

Macy’s stock opened at $12.28 on Monday. The firm has a 50 day simple moving average of $11.57 and a 200-day simple moving average of $13.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a market capitalization of $3.42 billion, a PE ratio of 20.81 and a beta of 1.74. Macy’s has a 12-month low of $9.76 and a 12-month high of $20.47.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. As a group, equities research analysts expect that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.1824 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 5.94%. Macy’s’s payout ratio is 37.06%.

Insiders Place Their Bets

In other news, CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the transaction, the executive vice president now owns 130,491 shares in the company, valued at approximately $1,666,370.07. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock worth $537,790 in the last quarter. 1.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. increased its stake in shares of Macy’s by 4.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company’s stock worth $261,000 after purchasing an additional 717 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Macy’s by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company’s stock worth $2,039,000 after purchasing an additional 760 shares during the last quarter. Quantinno Capital Management LP grew its stake in Macy’s by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company’s stock valued at $1,736,000 after buying an additional 872 shares during the last quarter. ProShare Advisors LLC raised its holdings in Macy’s by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company’s stock worth $220,000 after acquiring an additional 924 shares during the period. Finally, Arizona State Retirement System raised its holdings in Macy’s by 1.2% in the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock worth $1,364,000 after acquiring an additional 958 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.