Macy’s, Inc. (NYSE:M) Receives $17.45 Consensus Price Target from Analysts

Macy’s, Inc. (NYSE:M) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $17.45.

A number of research analysts have recently issued reports on M shares. StockNews.com started coverage on shares of Macy’s in a research report on Wednesday, April 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research report on Thursday, March 28th. Citigroup upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, Morgan Stanley reduced their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th.

Insider Transactions at Macy’s

In related news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Antony Spring sold 3,075 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $62,361.00. Following the completion of the sale, the chief executive officer now directly owns 228,750 shares in the company, valued at $4,639,050. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock valued at $4,405,507 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Macy’s

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of Macy’s by 241.3% in the third quarter. CWM LLC now owns 6,663 shares of the company’s stock worth $77,000 after buying an additional 4,711 shares during the last quarter. Cumberland Advisors Inc. lifted its stake in shares of Macy’s by 1.7% in the third quarter. Cumberland Advisors Inc. now owns 116,510 shares of the company’s stock worth $1,353,000 after buying an additional 2,000 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Macy’s by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 144,926 shares of the company’s stock worth $1,683,000 after buying an additional 19,377 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Macy’s by 16.9% in the third quarter. Pinnacle Associates Ltd. now owns 24,390 shares of the company’s stock worth $283,000 after buying an additional 3,522 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Macy’s by 8.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,718 shares of the company’s stock worth $566,000 after buying an additional 3,961 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Price Performance

Macy’s stock opened at $18.43 on Friday. Macy’s has a 52-week low of $10.54 and a 52-week high of $22.10. The firm has a fifty day moving average of $19.61 and a 200-day moving average of $17.62. The firm has a market capitalization of $5.07 billion, a P/E ratio of 49.81 and a beta of 2.15. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.88 EPS. As a group, analysts predict that Macy’s will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.1737 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio (DPR) is 186.49%.

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.