Macy’s Inc. (NYSE:M) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $42.00 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 10.41% from the stock’s current price.
Several other analysts have also issued reports on M. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $34.00 price target on shares of Macy’s in a research report on Monday, August 1st. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 16th. Guggenheim began coverage on shares of Macy’s in a research note on Friday, September 30th. They issued a “buy” rating and a $45.00 price objective for the company. Citigroup Inc. raised shares of Macy’s from a “neutral” rating to a “buy” rating and increased their price objective for the company from $35.42 to $44.00 in a research note on Wednesday, September 14th. Finally, Deutsche Bank AG increased their price objective on shares of Macy’s from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. Macy’s presently has a consensus rating of “Hold” and a consensus price target of $43.98.
Macy’s (NYSE:M) opened at 38.04 on Monday. The company has a 50-day moving average of $36.91 and a 200 day moving average of $36.46. Macy’s has a 52-week low of $29.94 and a 52-week high of $52.48. The company has a market cap of $11.73 billion, a PE ratio of 15.25 and a beta of 0.89.
Macy’s (NYSE:M) last announced its earnings results on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.09. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts predict that Macy’s will post $3.36 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Tuesday, September 13th. Macy’s’s payout ratio is currently 60.64%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in M. Wellington Management Group LLP purchased a new position in Macy’s during the first quarter worth $16,133,000. Pictet Asset Management Ltd. raised its position in Macy’s by 3.5% in the first quarter. Pictet Asset Management Ltd. now owns 277,295 shares of the company’s stock worth $11,982,000 after buying an additional 9,320 shares during the last quarter. Pacific Global Investment Management CO purchased a new position in Macy’s during the first quarter worth $208,000. Meeder Asset Management Inc. purchased a new position in Macy’s during the first quarter worth $292,000. Finally, State Street Corp raised its position in Macy’s by 0.3% in the first quarter. State Street Corp now owns 13,766,498 shares of the company’s stock worth $606,956,000 after buying an additional 39,136 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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