Vetr Inc. Lowers Macy’s Inc. (M) to Buy
Macy’s Inc. (NYSE:M) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They presently have a $42.00 target price on the stock. Vetr‘s price target suggests a potential upside of 10.41% from the stock’s current price.
M has been the subject of a number of other reports. Citigroup Inc. raised Macy’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $35.42 to $44.00 in a report on Wednesday, September 14th. Guggenheim initiated coverage on Macy’s in a report on Friday, September 30th. They issued a “buy” rating and a $45.00 price objective for the company. Credit Suisse Group AG lowered Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 price objective for the company. 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 reissued a “market perform” rating on shares of Macy’s in a report on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The stock currently 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 firm has a market capitalization of $11.73 billion, a PE ratio of 15.25 and a beta of 0.89. Macy’s has a 12-month low of $29.94 and a 12-month high of $52.48. The stock has a 50 day moving average price of $36.91 and a 200-day moving average price of $36.46.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts forecast that Macy’s will post $3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Tuesday, September 13th. Macy’s’s payout ratio is 60.64%.
Several large investors have recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. increased 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 valued at $202,000 after buying an additional 40 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Macy’s by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,896 shares of the company’s stock valued at $903,000 after buying an additional 72 shares in the last quarter. Barnett & Company Inc. increased its stake in shares of Macy’s by 0.4% in the second quarter. Barnett & Company Inc. now owns 40,128 shares of the company’s stock valued at $1,349,000 after buying an additional 175 shares in the last quarter. Selway Asset Management increased its stake in shares of Macy’s by 0.4% in the second quarter. Selway Asset Management now owns 48,500 shares of the company’s stock valued at $1,630,000 after buying an additional 200 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Macy’s by 4.8% in the second quarter. Pacer Advisors Inc. now owns 6,376 shares of the company’s stock valued at $214,000 after buying an additional 293 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors.
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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