M has been the topic of several other research reports. Vetr raised Macy’s from a strong sell rating to a sell rating and set a $35.17 price objective on the stock in a report on Monday, August 22nd. Citigroup Inc. raised Macy’s from a neutral rating to a buy rating and raised their price objective for the company from $35.42 to $44.00 in a report on Wednesday, September 14th. Credit Suisse Group AG downgraded Macy’s from an outperform rating to a neutral rating and set a $40.00 price objective on the stock. in a report on Wednesday, September 28th. Deutsche Bank AG raised Macy’s from a sell rating to a hold rating in a report on Thursday, August 25th. Finally, Cowen and Company reaffirmed a market perform rating on shares of Macy’s in a research report on Saturday, June 25th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Macy’s has a consensus rating of Hold and an average price target of $43.83.
Shares of Macy’s (NYSE:M) traded down 1.27% during mid-day trading on Friday, hitting $36.58. The stock had a trading volume of 1,152,556 shares. The stock has a market capitalization of $11.28 billion, a P/E ratio of 14.67 and a beta of 0.89. Macy’s has a 52 week low of $29.94 and a 52 week high of $52.48. The stock has a 50 day moving average of $37.36 and a 200-day moving average of $36.70.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities research analysts predict that Macy’s will post $3.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a $0.3775 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.08%. Macy’s’s payout ratio is presently 60.64%.
Institutional investors have recently bought and sold shares of the stock. Americafirst Capital Management LLC purchased a new position in Macy’s during the second quarter valued at approximately $133,000. Pacific Global Investment Management CO acquired a new stake in shares of Macy’s during the first quarter worth about $208,000. Advisory Services Network LLC boosted its stake in shares of Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 565 shares during the last quarter. First Manhattan Co. boosted its stake in shares of Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock worth $166,000 after buying an additional 1,796 shares during the last quarter. Finally, Benchmark Capital Advisors acquired a new stake in shares of Macy’s during the first quarter worth about $220,000. Institutional investors and hedge funds own 83.27% of the company’s stock.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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