Macy's’ (M) “Hold” Rating Reaffirmed at Jefferies Group
Jefferies Group reiterated their hold rating on shares of Macy's (NYSE:M) in a report released on Tuesday. Jefferies Group also issued estimates for Macy's’ Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $2.38 EPS, FY2019 earnings at $3.60 EPS and FY2020 earnings at $3.20 EPS.
Other analysts have also issued reports about the company. Vetr lowered Macy's from a strong-buy rating to a buy rating and set a $28.05 price objective for the company. in a report on Tuesday, December 19th. BMO Capital Markets restated a buy rating and issued a $36.00 target price on shares of Macy's in a research note on Thursday, November 2nd. Guggenheim restated a buy rating and issued a $27.00 target price on shares of Macy's in a research note on Friday, December 15th. Canaccord Genuity restated a buy rating and issued a $9.50 target price on shares of Macy's in a research note on Thursday, November 16th. Finally, Zacks Investment Research upgraded Macy's from a hold rating to a buy rating and set a $28.00 target price for the company in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $26.33.
Shares of Macy's (NYSE M) opened at $30.41 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 1.47 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $8,915.40, a PE ratio of 7.76, a P/E/G ratio of 0.98 and a beta of 0.79. Macy's has a fifty-two week low of $17.41 and a fifty-two week high of $33.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.51 annualized dividend and a dividend yield of 4.97%. Macy's’s dividend payout ratio is presently 29.96%.
In other news, CFO Karen M. Hoguet sold 67,515 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the completion of the transaction, the chief financial officer now directly owns 67,515 shares in the company, valued at $1,984,265.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of M. Raymond James Financial Services Advisors Inc. boosted its position in shares of Macy's by 3.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,924 shares of the company’s stock worth $486,000 after buying an additional 701 shares during the period. Nationwide Fund Advisors boosted its position in shares of Macy's by 8.6% during the third quarter. Nationwide Fund Advisors now owns 93,443 shares of the company’s stock worth $2,039,000 after buying an additional 7,372 shares during the period. First Trust Advisors LP boosted its position in shares of Macy's by 31.5% during the third quarter. First Trust Advisors LP now owns 1,177,861 shares of the company’s stock worth $25,701,000 after buying an additional 281,842 shares during the period. Korea Investment CORP lifted its position in Macy's by 29.0% in the third quarter. Korea Investment CORP now owns 303,873 shares of the company’s stock worth $6,631,000 after purchasing an additional 68,300 shares during the period. Finally, Calamos Advisors LLC lifted its position in Macy's by 3.8% in the third quarter. Calamos Advisors LLC now owns 91,693 shares of the company’s stock worth $2,001,000 after purchasing an additional 3,359 shares during the period. Institutional investors and hedge funds own 88.32% of the company’s stock.
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.
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.