Macy’s Inc. (M) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of Macy’s Inc. (NYSE:M) from a buy rating to a strong-buy rating in a research note released on Monday. They currently have $42.00 price target on the stock.
M has been the subject of several other research reports. RBC Capital Markets reaffirmed a sector perform rating and issued a $40.00 price objective (up previously from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Cowen and Company reaffirmed a market perform rating on shares of Macy’s in a research note on Saturday, June 25th. Guggenheim started coverage on Macy’s in a research note on Friday, September 30th. They issued a buy rating and a $45.00 price objective for the company. Telsey Advisory Group upped their price objective on Macy’s from $36.00 to $42.00 and gave the company a market perform rating in a research note on Friday, August 12th. Finally, Zacks Investment Research downgraded Macy’s from a buy rating to a hold rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $43.98.
Shares of Macy’s (NYSE:M) opened at 35.09 on Monday. The firm has a market cap of $10.82 billion, a PE ratio of 14.07 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’s 50 day moving average is $36.41 and its 200 day moving average is $36.09.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ 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 business earned $5.87 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. Macy’s’s revenue was down 3.9% compared to the same quarter last year. Analysts forecast that Macy’s will post $3.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio is 60.64%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. increased its position in Macy’s by 48.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,058 shares of the company’s stock worth $1,061,000 after buying an additional 7,905 shares in the last quarter. Ngam Advisors L.P. increased its position in Macy’s by 39.8% in the first quarter. Ngam Advisors L.P. now owns 25,971 shares of the company’s stock worth $1,145,000 after buying an additional 7,392 shares in the last quarter. Menta Capital LLC purchased a new position in Macy’s during the first quarter worth $344,000. BB&T Securities LLC increased its position in Macy’s by 1,797.1% in the first quarter. BB&T Securities LLC now owns 327,742 shares of the company’s stock worth $14,450,000 after buying an additional 310,466 shares in the last quarter. Finally, State Street Corp increased 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 in the last quarter. 83.31% 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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