Several other equities analysts also recently issued reports on M. Jefferies Group LLC reaffirmed a hold rating and set a $21.00 price objective (down from $24.00) on shares of Macy’s in a report on Friday, August 11th. Zacks Investment Research downgraded shares of Macy’s from a hold rating to a sell rating in a report on Wednesday, November 8th. Cowen and Company reaffirmed a market perform rating and set a $23.00 price objective (down from $26.00) on shares of Macy’s in a report on Friday, August 11th. Deutsche Bank AG increased their price objective on shares of Macy’s from $24.00 to $25.00 and gave the company a hold rating in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada set a $23.00 price objective on shares of Macy’s and gave the company a hold rating in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $26.25.
Shares of Macy’s (NYSE M) opened at $19.70 on Friday. Macy’s has a twelve month low of $17.41 and a twelve month high of $45.41. The stock has a market cap of $5,887.92, a price-to-earnings ratio of 6.51, a P/E/G ratio of 0.67 and a beta of 0.86. 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 (NYSE:M) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. analysts anticipate that Macy’s will post 3.39 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 7.66%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s payout ratio is currently 66.52%.
In related news, Director John A. Bryant purchased 9,825 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC increased its position in shares of Macy’s by 1,278.2% during the third quarter. Cubist Systematic Strategies LLC now owns 90,961 shares of the company’s stock valued at $1,985,000 after acquiring an additional 84,361 shares during the last quarter. Gagnon Securities LLC increased its position in shares of Macy’s by 13.8% during the third quarter. Gagnon Securities LLC now owns 57,846 shares of the company’s stock valued at $1,262,000 after acquiring an additional 7,020 shares during the last quarter. Tenzing Global Management LLC purchased a new position in shares of Macy’s in the third quarter valued at approximately $1,364,000. Janus Henderson Group PLC boosted its stake in shares of Macy’s by 25.8% in the third quarter. Janus Henderson Group PLC now owns 100,658 shares of the company’s stock valued at $2,197,000 after purchasing an additional 20,643 shares during the period. Finally, Caxton Associates LP boosted its stake in shares of Macy’s by 201.8% in the third quarter. Caxton Associates LP now owns 101,100 shares of the company’s stock valued at $2,206,000 after purchasing an additional 67,600 shares during the period. Institutional investors and hedge funds own 83.17% 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.
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