Macy’s (NYSE:M) Research Coverage Started at StockNews.com

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

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

View Our Latest Report on M

Macy’s Stock Performance

NYSE:M traded down $0.19 during mid-day trading on Wednesday, reaching $18.23. The company’s stock had a trading volume of 2,826,920 shares, compared to its average volume of 4,941,578. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The stock has a market cap of $5.04 billion, a P/E ratio of 607.67 and a beta of 2.16. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average price is $19.15 and its two-hundred day moving average price is $19.25.

Macy’s (NYSE:M – Get Free Report) last released 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. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that Macy’s will post 2.79 EPS for the current fiscal 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 issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Insider Buying and Selling

In related news, Director Jeffrey Gennette sold 30,090 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the transaction, the director now directly owns 1,073,699 shares in the company, valued at $21,108,922.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jeffrey Gennette sold 30,090 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the transaction, the director now directly owns 1,073,699 shares in the company, valued at $21,108,922.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Danielle L. Kirgan sold 6,680 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $131,328.80. Following the transaction, the executive vice president now owns 324,635 shares of the company’s stock, valued at $6,382,324.10. The disclosure for this sale can be found here. Insiders sold 218,424 shares of company stock valued at $4,405,507 over the last quarter. 2.77% of the stock is currently owned by company insiders.

Institutional Trading of Macy’s

Institutional investors and hedge funds have recently made changes to their positions in the business. Glassman Wealth Services increased its position in shares of Macy’s by 154.5% during the fourth 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. Lindbrook Capital LLC increased its position in shares of Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares in the last quarter. Riverview Trust Co acquired a new position in Macy’s during the first quarter worth $27,000. Fidelis Capital Partners LLC acquired a new position in Macy’s during the first quarter worth $42,000. Finally, Fortitude Family Office LLC acquired a new position in Macy’s during the fourth quarter worth $50,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

About Macy’s

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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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