Macy’s, Inc. (NYSE:M) Receives $17.45 Consensus PT from Brokerages

Macy’s, Inc. (NYSE:M) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.45.

Several research analysts have commented on M shares. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Morgan Stanley lowered their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Thursday, March 28th.

Macy’s Stock Down 0.7 %

Shares of NYSE M opened at $18.43 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 49.81 and a beta of 2.15. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10. The stock has a 50-day moving average price of $19.61 and a two-hundred day moving average price of $17.62.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, analysts forecast that Macy’s will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s dividend payout ratio is presently 186.49%.

Insiders Place Their Bets

In related news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the transaction, the chief executive officer now directly owns 248,897 shares in the company, valued at approximately $4,885,848.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the transaction, the chief executive officer now directly owns 248,897 shares in the company, valued at approximately $4,885,848.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the transaction, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,424 shares of company stock worth $4,405,507. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Macy’s

A number of large investors have recently modified their holdings of M. Glassman Wealth Services raised its position in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares during the last quarter. Lindbrook Capital LLC raised its position in Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares during the last quarter. Riverview Trust Co purchased a new stake in Macy’s in the 1st quarter valued at $27,000. Fortitude Family Office LLC purchased a new stake in Macy’s in the 4th quarter valued at $50,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Macy’s in the 1st quarter valued at $50,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.