Macy's (M) Given a $38.00 Price Target at BMO Capital Markets
Several other research analysts have also recently issued reports on M. ValuEngine cut shares of Macy's from a buy rating to a hold rating in a report on Sunday, December 31st. Cowen reissued a hold rating and set a $23.00 target price on shares of Macy's in a report on Thursday, September 28th. Vetr raised shares of Macy's from a buy rating to a strong-buy rating and set a $29.84 price objective for the company in a report on Tuesday, January 2nd. Zacks Investment Research cut shares of Macy's from a hold rating to a sell rating in a report on Wednesday, November 8th. Finally, Telsey Advisory Group lifted their price objective on shares of Macy's from $25.00 to $28.00 and gave the company a market perform rating in a report on Thursday, December 28th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Macy's has a consensus rating of Hold and an average target price of $25.91.
Macy's (M) opened at $24.44 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy's has a fifty-two week low of $17.41 and a fifty-two week high of $34.37. The stock has a market cap of $7,440.00, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.79 and a beta of 0.97.
Macy's (NYSE:M) last issued its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the company posted $0.17 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. analysts forecast that Macy's will post 3.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.18%. Macy's’s dividend payout ratio is currently 66.52%.
Several hedge funds have recently added to or reduced their stakes in M. Prudential Financial Inc. increased its stake in shares of Macy's by 75.3% during the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after purchasing an additional 2,153,110 shares in the last quarter. Alps Advisors Inc. acquired a new position in Macy's during the third quarter worth about $46,431,000. Discovery Capital Management LLC CT boosted its position in Macy's by 239.0% during the second quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock worth $66,729,000 after acquiring an additional 2,024,297 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Macy's by 30.9% during the third quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock worth $152,091,000 after acquiring an additional 1,646,858 shares during the last quarter. Finally, Contrarius Investment Management Ltd boosted its position in Macy's by 827.4% during the third quarter. Contrarius Investment Management Ltd now owns 1,575,547 shares of the company’s stock worth $34,378,000 after acquiring an additional 1,405,656 shares during the last quarter. 82.04% of the stock is owned by institutional investors and hedge funds.
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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