Macy’s Inc. (M) Rating Reiterated by Jefferies Group
Macy’s Inc. (NYSE:M)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group in a report released on Friday. They presently have a $40.00 target price on the stock. Jefferies Group’s price objective points to a potential downside of 3.75% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $34.00 price objective on shares of Macy’s in a report on Monday, August 1st. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, August 16th. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Monday, October 3rd. 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. Finally, Citigroup Inc. raised Macy’s from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.42 to $44.00 in a report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. Macy’s has an average rating of “Hold” and a consensus price target of $42.55.
Shares of Macy’s (NYSE:M) opened at 41.56 on Friday. The stock’s 50 day moving average price is $36.85 and its 200 day moving average price is $35.63. Macy’s has a one year low of $29.94 and a one year high of $45.50. The company has a market cap of $12.70 billion, a PE ratio of 18.92 and a beta of 0.77.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. The firm earned $5.63 billion during the quarter, compared to the consensus estimate of $5.65 billion. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Equities analysts predict that Macy’s will post $3.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Tuesday, December 13th. Macy’s’s payout ratio is 69.27%.
Several hedge funds have recently modified their holdings of M. Marcato Capital Management LP raised its position in shares of Macy’s by 12.5% in the first quarter. Marcato Capital Management LP now owns 2,514,826 shares of the company’s stock valued at $110,879,000 after buying an additional 280,335 shares during the period. Scopia Capital Management LP purchased a new position in shares of Macy’s during the first quarter valued at $106,608,000. Bourgeon Capital Management LLC purchased a new position in shares of Macy’s during the second quarter valued at $252,000. Candriam Luxembourg S.C.A. raised its position in shares of Macy’s by 59.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 351,237 shares of the company’s stock valued at $11,806,000 after buying an additional 130,557 shares during the period. Finally, Douglas Lane & Associates LLC raised its position in shares of Macy’s by 9.7% in the second quarter. Douglas Lane & Associates LLC now owns 1,001,372 shares of the company’s stock valued at $33,656,000 after buying an additional 88,508 shares during the period. 86.18% of the stock is 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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