Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

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

M has been the topic of a number of other research reports. Morgan Stanley reduced their price target on Macy’s from $18.00 to $17.00 and set an equal weight rating on the stock in a report on Thursday, August 22nd. Evercore ISI reduced their target price on Macy’s from $22.00 to $17.00 and set an in-line rating on the stock in a research note on Tuesday, July 16th. Finally, Telsey Advisory Group restated a market perform rating and set a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $20.43.

Macy’s Stock Up 0.3 %

Shares of Macy’s stock opened at $15.39 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy’s has a 52-week low of $10.54 and a 52-week high of $22.10. The company’s 50 day moving average price is $15.68 and its 200-day moving average price is $17.83. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 513.00 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the company posted $0.26 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities research analysts forecast that Macy’s will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.1737 dividend. 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 currently 2,300.00%.

Insider Activity at Macy’s

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

Institutional Investors Weigh In On Macy’s

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of Macy’s by 44.9% during the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after acquiring an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Macy’s in the 1st quarter worth $1,043,000. WINTON GROUP Ltd raised its stake in shares of Macy’s by 96.4% in the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock worth $2,047,000 after purchasing an additional 52,337 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Macy’s during the fourth quarter valued at $19,372,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

About Macy’s

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.