Macy’s, Inc. (NYSE:M) Given Average Recommendation of “Hold” by Brokerages

by · The Cerbat Gem

Macy’s, Inc. (NYSE:M – Get Free Report) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $14.90.

M has been the subject of a number of recent analyst reports. Benchmark raised Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 price target on shares of Macy’s in a research note on Wednesday, April 2nd. Morgan Stanley set a $14.00 price objective on shares of Macy’s in a research report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on shares of Macy’s from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Friday, March 7th.

Get Our Latest Research Report on M

Insider Activity at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company’s stock, valued at $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the sale, the executive vice president now owns 4,723 shares of the company’s stock, valued at $59,887.64. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock worth $537,790 in the last three months. Insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Hedge funds and other institutional investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its stake in shares of Macy’s by 4.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company’s stock worth $261,000 after buying an additional 717 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Macy’s by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company’s stock valued at $2,039,000 after purchasing an additional 760 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Macy’s by 0.9% in the fourth quarter. Quantinno Capital Management LP now owns 102,538 shares of the company’s stock valued at $1,736,000 after purchasing an additional 872 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Macy’s by 7.7% during the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company’s stock worth $220,000 after purchasing an additional 924 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Macy’s by 1.2% during the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock worth $1,364,000 after purchasing an additional 958 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Trading Up 1.0 %

NYSE:M opened at $11.13 on Friday. The stock has a fifty day moving average price of $13.19 and a 200 day moving average price of $14.84. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s has a 12-month low of $9.76 and a 12-month high of $20.70. The firm has a market cap of $3.10 billion, a PE ratio of 18.86 and a beta of 1.73.

Macy’s (NYSE:M – Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Sell-side analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.56%. The ex-dividend date was Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is 35.44%.

Macy’s Company Profile

(Get Free Report

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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