Macy’s (NYSE:M) had its price target increased by Deutsche Bank from $27.00 to $28.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Macy’s from a hold rating to a sell rating in a research note on Tuesday, April 30th. Standpoint Research raised Macy’s from a hold rating to a buy rating in a report on Wednesday, April 3rd. ValuEngine downgraded Macy’s from a sell rating to a strong sell rating in a report on Thursday, February 28th. Jefferies Financial Group reissued a hold rating and issued a $27.00 price target on shares of Macy’s in a report on Wednesday, February 27th. Finally, Goldman Sachs Group raised Macy’s from a sell rating to a neutral rating and reduced their price target for the company from $23.00 to $21.00 in a report on Thursday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $28.10.

M stock opened at $21.77 on Thursday. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. Macy’s has a 1 year low of $21.08 and a 1 year high of $41.99. The stock has a market capitalization of $6.69 billion, a PE ratio of 5.21, a P/E/G ratio of 0.83 and a beta of 0.41.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The business had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts predict that Macy’s will post 3.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 6.94%. Macy’s’s dividend payout ratio is currently 36.12%.

In other Macy’s news, Director Joyce M. Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total transaction of $243,000.00. Following the transaction, the director now owns 13,647 shares of the company’s stock, valued at approximately $331,622.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deirdre P. Connelly sold 6,250 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $25.76, for a total value of $161,000.00. Following the transaction, the director now directly owns 17,092 shares in the company, valued at approximately $440,289.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,921 shares of company stock worth $421,238. 0.55% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in M. TIAA CREF Investment Management LLC lifted its holdings in shares of Macy’s by 290.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,597,586 shares of the company’s stock worth $90,214,000 after purchasing an additional 1,932,030 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Macy’s by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 2,008,009 shares of the company’s stock worth $69,705,000 after purchasing an additional 113,351 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Macy’s by 6.5% in the 3rd quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after purchasing an additional 2,133,597 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Macy’s by 16.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 51,925 shares of the company’s stock worth $1,546,000 after purchasing an additional 7,271 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of Macy’s by 116.0% in the 4th quarter. DNB Asset Management AS now owns 76,338 shares of the company’s stock worth $2,273,000 after purchasing an additional 41,000 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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Analyst Recommendations for Macy`s (NYSE:M)

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