Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Macy’s (NYSE:M) in a research note published on Wednesday. The firm issued a hold rating on the stock.

Several other research analysts have also recently commented on the company. Morgan Stanley reduced their price target on Macy’s from $21.00 to $20.00 and set an equal weight rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their target price on shares of 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 reaffirmed a market perform rating and set a $21.00 price target on shares of Macy’s in a research report on Tuesday, May 21st. TD Cowen lifted their price target on Macy’s from $20.00 to $21.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Macy’s from $25.00 to $27.00 and gave the company an overweight rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $17.70.

Macy’s Stock Down 1.0 %

Macy’s stock opened at $18.23 on Wednesday. The company has a 50 day moving average of $19.15 and a 200-day moving average of $19.25. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. Macy’s has a twelve month low of $10.54 and a twelve month high of $22.10. The stock has a market capitalization of $5.04 billion, a PE ratio of 607.67 and a beta of 2.16.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that Macy’s will post 2.79 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, June 14th. Macy’s’s payout ratio is presently 2,300.00%.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 13,404 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $273,709.68. Following the completion of the sale, the chief executive officer now directly owns 223,286 shares in the company, valued at approximately $4,559,500.12. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Antony Spring sold 13,404 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the transaction, the chief executive officer now owns 223,286 shares of the company’s stock, valued at approximately $4,559,500.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Adrian V. Mitchell sold 13,279 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $260,666.77. Following the completion of the sale, the chief financial officer now owns 120,457 shares in the company, valued at approximately $2,364,570.91. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock valued at $4,405,507 over the last three months. 2.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the period. Deutsche Bank AG lifted its stake in shares of Macy’s by 260.8% in the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after acquiring an additional 1,841,432 shares during the period. American Century Companies Inc. boosted its holdings in Macy’s by 20.8% in the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after acquiring an additional 565,269 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Macy’s during the 4th quarter valued at approximately $6,021,000. Finally, Rafferty Asset Management LLC raised its holdings in Macy’s by 7.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 38,304 shares of the company’s stock worth $445,000 after purchasing an additional 2,698 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

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.