Macy's Inc (M) Lowered to “Neutral” at Citigroup Inc

Citigroup Inc downgraded shares of Macy's Inc (NYSE:M) from a buy rating to a neutral rating in a research note issued to investors on Friday. Citigroup Inc currently has $30.00 target price on the stock.

Several other brokerages also recently weighed in on M. Buckingham Research downgraded Macy's from a buy rating to a neutral rating and set a $30.00 target price for the company. in a research note on Tuesday, January 31st. Vetr upgraded Macy's from a buy rating to a strong-buy rating and set a $45.83 target price for the company in a research note on Monday, December 12th. Goldman Sachs Group Inc set a $39.00 target price on Macy's and gave the company a hold rating in a research note on Thursday, January 5th. OTR Global downgraded Macy's to a sell rating in a research note on Friday, February 3rd. Finally, Telsey Advisory Group lowered their target price on Macy's from $42.00 to $38.00 and set a market perform rating for the company in a research note on Thursday, January 5th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $38.35.

Macy's (NYSE:M) traded down 0.07% on Friday, reaching $28.15. The company had a trading volume of 3,140,072 shares. Macy's has a 52-week low of $27.72 and a 52-week high of $45.41. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 14.15 and a beta of 0.79. The stock’s 50-day moving average price is $31.47 and its 200 day moving average price is $35.28.

Macy's (NYSE:M) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.06. Macy's had a return on equity of 24.83% and a net margin of 2.63%. The firm earned $8.52 billion during the quarter, compared to the consensus estimate of $8.61 billion. During the same period in the prior year, the firm earned $2.09 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Macy's will post $3.46 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be issued a $0.3775 dividend. The ex-dividend date is Monday, March 13th. This represents a $1.51 dividend on an annualized basis and a yield of 5.36%. Macy's’s dividend payout ratio is currently 69.27%.

A number of institutional investors have recently modified their holdings of M. Northwestern Mutual Wealth Management Co. boosted its stake in Macy's by 5.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,370 shares of the company’s stock worth $248,000 after buying an additional 372 shares during the period. Kentucky Retirement Systems acquired a new stake in Macy's during the second quarter worth $881,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macy's during the second quarter worth $419,000. Macquarie Group Ltd. boosted its stake in Macy's by 0.3% in the second quarter. Macquarie Group Ltd. now owns 118,248 shares of the company’s stock worth $3,974,000 after buying an additional 350 shares during the period. Finally, Gofen & Glossberg LLC IL boosted its stake in Macy's by 3.0% in the third quarter. Gofen & Glossberg LLC IL now owns 14,750 shares of the company’s stock worth $546,000 after buying an additional 429 shares during the period. 86.28% of the stock is currently owned by hedge funds and other 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.

5 Day Chart for NYSE:M

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