Macy’s Inc. (M) Upgraded by Vetr Inc. to “Strong-Buy”
Macy’s Inc. (NYSE:M) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm currently has a $42.00 price target on the stock. Vetr‘s price target points to a potential upside of 15.77% from the company’s current price.
A number of other research firms have also recently weighed in on M. RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 price objective (up previously from $35.00) on shares of Macy’s in a research report on Saturday, August 13th. Cowen and Company reiterated a “market perform” rating on shares of Macy’s in a research report on Saturday, June 25th. Guggenheim started coverage on shares of Macy’s in a research report on Friday. They set a “buy” rating and a $45.00 price objective on the stock. Telsey Advisory Group boosted their price objective on shares of Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, August 12th. Finally, Zacks Investment Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Macy’s currently has a consensus rating of “Hold” and an average price target of $43.98.
Macy’s (NYSE:M) traded down 2.08% during midday trading on Monday, hitting $36.28. 4,269,351 shares of the stock traded hands. The stock has a market capitalization of $11.19 billion, a P/E ratio of 14.55 and a beta of 0.89. The stock’s 50-day moving average price is $37.25 and its 200-day moving average price is $36.55. Macy’s has a 52 week low of $29.94 and a 52 week high of $52.48.
Macy’s (NYSE:M) last released its earnings results on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping the 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 the consensus estimate of $5.73 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts expect that Macy’s will post $3.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a $0.3775 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.51 annualized dividend and a yield of 4.16%. Macy’s’s dividend payout ratio (DPR) is presently 60.64%.
Institutional investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Macy’s during the second quarter valued at $133,000. 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. Private Advisor Group LLC boosted its stake in shares of Macy’s by 39.2% in the second quarter. Private Advisor Group LLC now owns 5,971 shares of the company’s stock worth $201,000 after buying an additional 1,683 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its stake in shares of Macy’s by 0.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 5,998 shares of the company’s stock worth $202,000 after buying an additional 40 shares during the last quarter. Institutional investors 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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