Vetr upgraded shares of Macy’s (NYSE:M) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning. The firm currently has $27.57 price objective on the stock.
Other equities research analysts have also issued research reports about the stock. Cowen reiterated a hold rating and set a $23.00 price objective on shares of Macy’s in a research note on Thursday, September 28th. Zacks Investment Research lowered shares of Macy’s from a hold rating to a sell rating in a research note on Wednesday, November 8th. Royal Bank of Canada set a $21.00 price objective on shares of Macy’s and gave the stock a sector perform rating in a research note on Friday, October 20th. Susquehanna Bancshares set a $38.00 target price on shares of Macy’s and gave the stock a buy rating in a research report on Friday, October 20th. Finally, BidaskClub upgraded shares of Macy’s from a sell rating to a hold rating in a research report on Saturday, August 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $25.50.
Shares of Macy’s (NYSE:M) opened at $25.57 on Monday. The firm has a market cap of $7,790.00, a PE ratio of 8.50, a P/E/G ratio of 0.88 and a beta of 0.97. Macy’s has a 12 month low of $17.41 and a 12 month high of $37.67. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is presently 66.52%.
Institutional investors have recently bought and sold shares of the company. Ffcm LLC boosted its holdings in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Macy’s by 51.1% in the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after acquiring an additional 1,880 shares in the last quarter. Kistler Tiffany Companies LLC bought a new position in shares of Macy’s in the third quarter valued at approximately $148,000. IFP Advisors Inc boosted its holdings in shares of Macy’s by 62.9% in the third quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after acquiring an additional 3,083 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new position in shares of Macy’s in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 82.04% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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