Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Macy’s (NYSE:MFree Report) in a research report sent to investors on Wednesday. The brokerage issued a hold rating on the stock.

A number of other equities research analysts also recently issued reports on M. Telsey Advisory Group reiterated a market perform rating and issued a $21.00 price objective on shares of Macy’s in a research report on Tuesday, May 21st. The Goldman Sachs Group increased their price objective on Macy’s from $16.00 to $22.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Morgan Stanley lowered their price objective on Macy’s from $21.00 to $20.00 and set an equal weight rating on the stock in a research report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price objective on Macy’s from $25.00 to $27.00 and gave the stock an overweight rating in a research report on Wednesday, May 22nd. Finally, TD Cowen increased their price objective on Macy’s from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Macy’s has an average rating of Hold and an average price target of $17.70.

Read Our Latest Report on Macy’s

Macy’s Stock Performance

M stock opened at $18.30 on Wednesday. The business has a 50 day moving average of $19.06 and a 200-day moving average of $19.26. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a market cap of $5.06 billion, a PE ratio of 610.00 and a beta of 2.16. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:MGet Free Report) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company earned $0.56 earnings per share. Macy’s’s revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Macy’s will post 2.79 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.80%. Macy’s’s payout ratio is 2,300.00%.

Insider Activity

In other news, CFO Adrian V. Mitchell sold 3,437 shares of Macy’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $69,702.36. Following the completion of the transaction, the chief financial officer now directly owns 104,200 shares in the company, valued at $2,113,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Adrian V. Mitchell sold 13,279 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $260,666.77. Following the completion of the transaction, the chief financial officer now directly owns 120,457 shares in the company, valued at approximately $2,364,570.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Adrian V. Mitchell sold 3,437 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $20.28, for a total transaction of $69,702.36. Following the completion of the transaction, the chief financial officer now owns 104,200 shares of the company’s stock, valued at $2,113,176. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,165 shares of company stock worth $1,888,528. Insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC increased its stake in shares of Macy’s by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock worth $866,000 after purchasing an additional 554 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Macy’s by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock worth $359,000 after purchasing an additional 603 shares in the last quarter. Glassman Wealth Services increased its stake in shares of Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after purchasing an additional 743 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Macy’s by 13.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock worth $139,000 after purchasing an additional 800 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Macy’s by 0.6% in the 4th quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after purchasing an additional 841 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Company Profile

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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.

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Analyst Recommendations for Macy's (NYSE:M)

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