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

Macy’s, Inc. (NYSE:M) has received a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $17.45.

A number of brokerages have recently commented on M. The Goldman Sachs Group lifted their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. StockNews.com started coverage on shares of Macy’s in a research report on Thursday. They issued a “hold” rating for the company. TD Cowen cut shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Finally, Morgan Stanley decreased their price objective on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th.

Insider Activity at Macy’s

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Paul Griscom sold 2,969 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the transaction, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock worth $4,405,507 in the last quarter. Company insiders own 1.52% of the company’s stock.

Institutional Trading of Macy’s

A number of hedge funds have recently bought and sold shares of the business. Glassman Wealth Services increased its position in shares of Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after purchasing an additional 743 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the last quarter. Riverview Trust Co bought a new stake in Macy’s in the first quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new position in Macy’s in the first quarter valued at about $42,000. Finally, Fortitude Family Office LLC bought a new position in shares of Macy’s during the 4th quarter valued at approximately $50,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Up 2.1 %

M stock opened at $19.52 on Friday. The stock has a market capitalization of $5.37 billion, a P/E ratio of 52.76 and a beta of 2.16. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $19.57 and a 200-day moving average price of $17.75. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10.

Macy’s (NYSE:M) last issued its 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. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the business posted $1.88 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts anticipate that Macy’s will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.1737 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.56%. Macy’s’s dividend payout ratio (DPR) is 186.49%.

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.