Macy’s Inc. (M) Stock Rating Lowered by Vetr Inc.
Macy’s Inc. (NYSE:M) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They currently have a $40.39 price objective on the stock. Vetr‘s target price would indicate a potential downside of 2.35% from the company’s previous close.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $35.00 target price (down previously from $37.00) on shares of Macy’s in a research report on Saturday, August 13th. RBC Capital Markets reissued a “sector perform” rating and set a $40.00 target price (up previously from $35.00) on shares of Macy’s in a research report on Saturday, August 13th. Goldman Sachs Group Inc. raised their price target on shares of Macy’s from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, August 12th. Finally, Deutsche Bank AG raised their price target on shares of Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.55.
Shares of Macy’s (NYSE:M) opened at 41.36 on Thursday. The firm has a 50-day moving average of $36.85 and a 200-day moving average of $35.63. The company has a market cap of $12.76 billion, a P/E ratio of 16.58 and a beta of 0.77. Macy’s has a 52-week low of $29.94 and a 52-week high of $45.50.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. Macy’s’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts forecast that Macy’s will post $3.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Tuesday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 69.27%.
A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Macy’s during the first quarter worth approximately $16,133,000. Nuveen Asset Management LLC increased its position in shares of Macy’s by 145.3% in the first quarter. Nuveen Asset Management LLC now owns 394,855 shares of the company’s stock worth $17,409,000 after buying an additional 233,866 shares during the period. AMP Capital Investors Ltd increased its position in shares of Macy’s by 28.7% in the first quarter. AMP Capital Investors Ltd now owns 177,945 shares of the company’s stock worth $7,846,000 after buying an additional 39,661 shares during the period. National Pension Service increased its position in shares of Macy’s by 3.7% in the first quarter. National Pension Service now owns 226,245 shares of the company’s stock worth $9,975,000 after buying an additional 8,130 shares during the period. Finally, Zurich Insurance Group Ltd FI increased its position in shares of Macy’s by 16.2% in the first quarter. Zurich Insurance Group Ltd FI now owns 49,247 shares of the company’s stock worth $2,171,000 after buying an additional 6,870 shares during the period. 83.44% of the stock is currently owned by 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.
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