A number of research firms have changed their ratings and price targets for Macy’s (NYSE: M):

  • 1/11/2019 – Macy’s had its price target lowered by analysts at Royal Bank of Canada to $29.00. They now have a “sector perform” rating on the stock.
  • 1/11/2019 – Macy’s had its price target lowered by analysts at Credit Suisse Group AG from $34.00 to $26.00. They now have a “neutral” rating on the stock.
  • 1/11/2019 – Macy’s had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $28.00 price target on the stock, down previously from $35.00.
  • 1/10/2019 – Macy’s was downgraded by analysts at Bank of America Corp from a “neutral” rating to an “underperform” rating.
  • 1/10/2019 – Macy’s was downgraded by analysts at Gordon Haskett from a “buy” rating to a “hold” rating.
  • 1/2/2019 – Macy’s was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 12/6/2018 – Macy’s was downgraded by analysts at Atlantic Securities from a “neutral” rating to an “underweight” rating. They now have a $28.00 price target on the stock, down previously from $39.00.
  • 11/16/2018 – Macy’s was upgraded by analysts at Canaccord Genuity from an “average” rating to a “buy” rating. They now have a $5.50 price target on the stock.
  • 11/15/2018 – Macy’s had its price target raised by analysts at Deutsche Bank AG from $35.00 to $38.00. They now have a “hold” rating on the stock.
  • 11/15/2018 – Macy’s was given a new $39.00 price target on by analysts at Bank of America Corp. They now have a “hold” rating on the stock.

M traded up $0.05 on Monday, hitting $25.47. 93,355 shares of the stock were exchanged, compared to its average volume of 14,045,717. Macy’s Inc has a 12 month low of $22.47 and a 12 month high of $41.99. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.91 and a beta of 0.67.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, November 14th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Sell-side analysts anticipate that Macy’s Inc will post 4.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend was Thursday, December 13th. Macy’s’s dividend payout ratio is currently 40.05%.

In other news, Director William H. Lenehan bought 3,154 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $31.74 per share, with a total value of $100,107.96. Following the transaction, the director now owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, President Harry A. Lawton III sold 200,000 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $33.09, for a total transaction of $6,618,000.00. Following the sale, the president now directly owns 226,038 shares of the company’s stock, valued at approximately $7,479,597.42. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its holdings in shares of Macy’s by 6.5% during the 3rd quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after buying an additional 2,133,597 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of Macy’s in the 3rd quarter worth $2,806,000. Ffcm LLC lifted its holdings in shares of Macy’s by 224.4% in the 3rd quarter. Ffcm LLC now owns 45,795 shares of the company’s stock worth $1,605,000 after purchasing an additional 31,678 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Macy’s by 4.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 221,808 shares of the company’s stock worth $7,703,000 after purchasing an additional 9,813 shares in the last quarter. Finally, Palo Capital Inc. bought a new position in shares of Macy’s in the 3rd quarter worth $691,000. 91.04% of the stock is owned by institutional investors and hedge funds.

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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