Macy’s, Inc. (NYSE:M) Given Average Rating of “Hold” by Brokerages
Macy’s, Inc. (NYSE:M – Get Rating) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.91.
M has been the topic of several research reports. OTR Global upgraded Macy’s from a “mixed” rating to a “positive” rating in a research note on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft cut their price target on Macy’s from $24.00 to $23.00 in a research note on Wednesday, January 4th. Jefferies Financial Group cut their price target on Macy’s from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, September 15th. Credit Suisse Group raised their price target on Macy’s to $19.00 in a research note on Monday, November 21st. Finally, Citigroup raised their price target on Macy’s from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 18th.
Macy’s Stock Up 2.6 %
Shares of M opened at $22.13 on Monday. The company has a market cap of $6.00 billion, a PE ratio of 4.61, a P/E/G ratio of 0.44 and a beta of 1.72. The business has a fifty day moving average of $21.37 and a 200 day moving average of $19.19. Macy’s has a 52-week low of $15.10 and a 52-week high of $28.21. The company has a quick ratio of 0.14, a current ratio of 1.09 and a debt-to-equity ratio of 0.86.
Macy’s (NYSE:M – Get Rating) last issued its quarterly earnings results on Thursday, November 17th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.33. Macy’s had a return on equity of 42.58% and a net margin of 5.68%. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period last year, the company earned $1.23 earnings per share. Macy’s’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts expect that Macy’s will post 4.19 EPS for the current year.
Macy’s Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Wednesday, December 14th. Macy’s’s dividend payout ratio (DPR) is 13.13%.
Institutional Investors Weigh In On Macy’s
A number of institutional investors and hedge funds have recently modified their holdings of M. Dynamic Technology Lab Private Ltd lifted its holdings in Macy’s by 1,247.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 157,483 shares of the company’s stock valued at $3,836,000 after acquiring an additional 145,793 shares during the period. M&T Bank Corp acquired a new position in Macy’s in the second quarter valued at approximately $286,000. Hussman Strategic Advisors Inc. lifted its holdings in Macy’s by 60.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 208,000 shares of the company’s stock valued at $3,811,000 after acquiring an additional 78,000 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Macy’s in the second quarter valued at approximately $1,298,000. Finally, Carolina Wealth Advisors LLC increased its position in shares of Macy’s by 20.1% in the second quarter. Carolina Wealth Advisors LLC now owns 14,929 shares of the company’s stock valued at $273,000 after buying an additional 2,498 shares in the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.
Macy’s Company Profile
Macy’s, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy’s, Macy’s Backstage, Market by Macy’s, Bloomingdale’s, Bloomingdale’s The Outlet, Bloomies, and bluemercury brands.
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