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

StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report released on Wednesday morning. The brokerage issued a hold rating on the stock.

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

Macy’s Stock Down 0.2 %

M stock opened at $18.30 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The firm has a market capitalization of $5.06 billion, a P/E ratio of 610.00 and a beta of 2.16. Macy’s has a 52-week low of $10.54 and a 52-week high of $22.10. The company’s 50 day simple moving average is $19.06 and its 200-day simple moving average is $19.26.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. As a group, equities research analysts anticipate that Macy’s will post 2.79 EPS for the current year.

Macy’s Announces Dividend

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

Insider Activity at Macy’s

In other Macy’s news, CFO Adrian V. Mitchell sold 3,437 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $69,702.36. Following the completion of the sale, the chief financial officer now directly owns 104,200 shares of the company’s stock, valued at approximately $2,113,176. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Macy’s news, CFO Adrian V. Mitchell sold 3,437 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $69,702.36. Following the completion of the sale, the chief financial officer now directly owns 104,200 shares of the company’s stock, valued at approximately $2,113,176. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the sale, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,165 shares of company stock worth $1,888,528. 2.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Macy’s

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