Analysts Set Macy’s, Inc. (NYSE:M) Target Price at $19.50

Macy’s, Inc. (NYSE:M) has received a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.43.

M has been the topic of several analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Morgan Stanley cut their price target on shares of 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 price objective on shares of 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, StockNews.com assumed coverage on shares of Macy’s in a research report on Monday, September 23rd. They issued a “hold” rating for the company.

Macy’s Stock Performance

NYSE:M opened at $15.25 on Wednesday. The firm’s fifty day simple moving average is $15.74 and its 200 day simple moving average is $17.97. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s has a twelve month low of $10.54 and a twelve month high of $22.10. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 508.33 and a beta of 2.11.

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

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.56%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Insider Buying and Selling at Macy’s

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

Institutional Trading of Macy’s

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC boosted its holdings in Macy’s by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Macy’s by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after acquiring an additional 761 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Macy’s by 13.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock worth $139,000 after purchasing an additional 800 shares during the period. Wedmont Private Capital lifted its holdings in shares of Macy’s by 6.1% during the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock valued at $275,000 after purchasing an additional 833 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position 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 valued at $2,839,000 after purchasing an additional 877 shares during the period. 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.