StockNews.com assumed coverage on shares of Macy’s (NYSE:M – Free Report) in a report published on Friday. The brokerage issued a hold rating on the stock.
Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley cut their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Evercore ISI lowered their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $20.43.
View Our Latest Report on Macy’s
Macy’s Price Performance
Macy’s (NYSE:M – Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. On average, sell-side analysts expect that Macy’s will post 2.72 earnings per share for the current year.
Macy’s Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.51%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.
Institutional Trading of Macy’s
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new stake in Macy’s in the 1st quarter valued at $42,000. Future Financial Wealth Managment LLC bought a new stake in shares of Macy’s in the 3rd quarter worth about $39,000. EntryPoint Capital LLC purchased a new position in shares of Macy’s during the 1st quarter worth about $51,000. Abich Financial Wealth Management LLC bought a new position in Macy’s during the 2nd quarter valued at about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s in the 2nd quarter worth about $62,000. Institutional investors own 87.36% of the company’s stock.
About Macy’s
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.
Further Reading
- Five stocks we like better than Macy’s
- Retail Stocks Investing, Explained
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- Low PE Growth Stocks: Unlocking Investment Opportunities
- MarketBeat Week in Review – 10/21- 10/25
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.