Brokerages Set Macy’s, Inc. (NYSE:M) Target Price at $17.70

Macy’s, Inc. (NYSE:M) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.70.

Several equities analysts recently issued reports on M shares. 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. 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. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Tuesday, May 21st. The Goldman Sachs Group upped their price objective on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Morgan Stanley reduced 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.

Insider Transactions at Macy’s

In related news, Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at approximately $21,108,922.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Adrian V. Mitchell sold 13,279 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $260,666.77. Following the completion of the sale, the chief financial officer now directly owns 120,457 shares of the company’s stock, valued at approximately $2,364,570.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The disclosure for this sale can be found here. Insiders sold 65,430 shares of company stock valued at $1,285,499 over the last 90 days. Corporate insiders own 2.77% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after acquiring an additional 2,645,577 shares during the last quarter. Deutsche Bank AG boosted its stake in Macy’s by 260.8% during the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after acquiring an additional 1,841,432 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Macy’s by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after buying an additional 565,269 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Macy’s in the 4th quarter worth about $6,021,000. Finally, Rafferty Asset Management LLC lifted its position in shares of Macy’s by 7.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 38,304 shares of the company’s stock worth $445,000 after buying an additional 2,698 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Down 0.2 %

Shares of NYSE M opened at $18.30 on Monday. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The company has a market capitalization of $5.06 billion, a PE ratio of 610.00 and a beta of 2.16. 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’s 50-day moving average is $19.06 and its two-hundred day moving average is $19.28.

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

Macy’s Announces Dividend

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

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.