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

StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a research report report published on Thursday. The brokerage issued a hold rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of 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 lifted their price target on 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 reiterated a market perform rating and issued a $21.00 price objective on shares of Macy’s in a research note on Tuesday, May 21st. TD Cowen raised their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Macy’s from $25.00 to $27.00 and gave the company an overweight rating in a research report 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. Based on data from MarketBeat.com, Macy’s presently has an average rating of Hold and a consensus target price of $17.70.

Macy’s Price Performance

Macy’s stock opened at $18.71 on Thursday. The stock has a market cap of $5.17 billion, a P/E ratio of 623.50 and a beta of 2.16. The company has a fifty day simple moving average of $19.07 and a 200-day simple moving average of $19.30. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Equities analysts expect that Macy’s will post 2.79 EPS for the current fiscal year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, June 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.71%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Insider Buying and Selling

In related news, CFO Adrian V. Mitchell sold 13,279 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $260,666.77. Following the sale, the chief financial officer now directly owns 120,457 shares in the company, valued at $2,364,570.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Adrian V. Mitchell sold 13,279 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $260,666.77. Following the sale, the chief financial officer now owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Danielle L. Kirgan sold 6,680 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.66, for a total transaction of $131,328.80. Following the transaction, the executive vice president now owns 324,635 shares in the company, valued at $6,382,324.10. The disclosure for this sale can be found here. Insiders sold 65,430 shares of company stock valued at $1,285,499 over the last ninety days. Corporate insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Macy’s in the first quarter valued at approximately $1,043,000. Tidal Investments LLC acquired a new stake in Macy’s during the 1st quarter valued at $392,000. Levin Capital Strategies L.P. purchased a new position in Macy’s during the first quarter worth $400,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of Macy’s by 32.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 16,943 shares of the company’s stock worth $339,000 after acquiring an additional 4,122 shares during the last quarter. Finally, Beryl Capital Management LLC purchased a new stake in shares of Macy’s in the first quarter valued at $7,015,000. 87.36% of the stock is owned by institutional investors and hedge funds.

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.