Macy’s Inc (NYSE:M) had its target price lowered by equities researchers at Deutsche Bank AG from $33.00 to $24.00 in a research note issued to investors on Friday, May 12th. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 4.67% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Vetr cut shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $34.90 price objective for the company. in a research report on Monday, February 6th. Wunderlich reaffirmed a “buy” rating and issued a $24.00 price target on shares of Macy’s in a research report on Friday, May 5th. Cowen and Company set a $44.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Tuesday, February 7th. Credit Suisse Group reaffirmed a “hold” rating on shares of Macy’s in a research report on Thursday, February 16th. Finally, Royal Bank Of Canada set a $35.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Saturday, February 25th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Macy’s currently has an average rating of “Hold” and a consensus price target of $31.89.
Macy’s (NYSE M) traded up 0.88% during midday trading on Friday, hitting $22.93. The company had a trading volume of 8,967,767 shares. The firm’s 50 day moving average is $24.62 and its 200-day moving average is $30.55. Macy’s has a 52 week low of $21.51 and a 52 week high of $45.41. The firm has a market capitalization of $6.98 billion, a P/E ratio of 12.37 and a beta of 0.77.
Macy’s (NYSE:M) last posted its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down 7.5% on a year-over-year basis. On average, equities research analysts expect that Macy’s will post $3.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.3775 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.51 dividend on an annualized basis and a yield of 6.59%. Macy’s’s payout ratio is currently 81.62%.
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In other Macy’s news, insider Jeffrey Gennette bought 13,085 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average cost of $22.95 per share, with a total value of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Molly Langenstein sold 1,251 shares of Macy’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total transaction of $35,716.05. Following the completion of the transaction, the insider now directly owns 6,414 shares in the company, valued at $183,119.70. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in M. Penserra Capital Management LLC boosted its position in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares in the last quarter. WFG Advisors LP boosted its position in shares of Macy’s by 9,613.2% in the fourth quarter. WFG Advisors LP now owns 3,691 shares of the company’s stock valued at $144,000 after buying an additional 3,653 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its position in shares of Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock valued at $164,000 after buying an additional 3,910 shares in the last quarter. Finally, Blenheim Capital Management BV purchased a new position in shares of Macy’s during the fourth quarter valued at about $186,000. 86.34% of the stock is currently owned by institutional investors.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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