Macy’s, Inc. (NYSE:M) Receives $18.90 Consensus Target Price from Analysts

Shares of Macy’s, Inc. (NYSE:M) have earned a consensus recommendation of “Reduce” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.90.

Several research firms have recently issued reports on M. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $20.00 price objective (down from $25.00) on shares of Macy’s in a research note on Wednesday, March 18th. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Macy’s in a report on Wednesday, March 18th. Wall Street Zen cut shares of Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. The Goldman Sachs Group raised their price target on shares of Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th.

Macy’s Trading Up 2.8%

NYSE M opened at $18.08 on Friday. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 7.79 and a beta of 1.51. Macy’s has a twelve month low of $9.76 and a twelve month high of $24.41. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $19.76 and its 200 day moving average is $20.17.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 EPS. As a group, sell-side analysts expect that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.1915 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.77 annualized dividend and a yield of 4.2%. This is an increase from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio is 33.19%.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently made changes to their positions in M. CIBC Private Wealth Group LLC raised its position in shares of Macy’s by 35.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after acquiring an additional 486 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Macy’s by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock valued at $481,000 after acquiring an additional 500 shares during the last quarter. Cambria Investment Management L.P. increased its position in Macy’s by 4.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 12,066 shares of the company’s stock valued at $216,000 after purchasing an additional 524 shares during the period. Smartleaf Asset Management LLC increased its position in Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after purchasing an additional 526 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after purchasing an additional 592 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.