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

StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report published on Tuesday. The firm issued a hold rating on the stock.

Several other brokerages have also weighed in on M. Morgan Stanley decreased their price objective on Macy’s from $18.00 to $17.00 and set an equal weight rating for the company in a report on Thursday, August 22nd. Evercore ISI reduced their target price on shares of 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. Finally, Telsey Advisory Group reissued a market perform rating and issued a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $20.43.

Macy’s Stock Up 0.3 %

M opened at $15.39 on Tuesday. Macy’s has a twelve month low of $10.54 and a twelve month high of $22.10. The company’s 50-day moving average price is $15.68 and its two-hundred day moving average price is $17.83. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 513.00 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. Macy’s’s revenue was down 3.8% on a year-over-year basis. As a group, equities analysts expect that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Friday, September 13th. Macy’s’s dividend payout ratio is presently 2,300.00%.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,665 shares of company stock worth $842,372. 2.77% of the stock is owned by company insiders.

Institutional Trading of Macy’s

Several institutional investors and hedge funds have recently made changes to their positions in M. Dimensional Fund Advisors LP boosted its stake in Macy’s by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after buying an additional 1,379,476 shares in the last quarter. LSV Asset Management boosted its stake in shares of Macy’s by 1.3% in the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after purchasing an additional 68,300 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after purchasing an additional 747,542 shares during the last quarter. Marshall Wace LLP raised its position in Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Macy’s by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after purchasing an additional 37,254 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.