Macy’s Inc. (M) Downgraded to Sell at Vetr Inc.
Macy’s Inc. (NYSE:M) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued on Wednesday. They presently have a $39.19 target price on the stock. Vetr‘s price objective points to a potential downside of 5.32% from the stock’s previous close.
M has been the topic of several other reports. Citigroup Inc. upgraded Macy’s from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.42 to $44.00 in a research note on Wednesday, September 14th. Guggenheim started coverage on Macy’s in a research note on Friday, September 30th. They issued a “buy” rating and a $45.00 target price on the stock. Zacks Investment Research downgraded Macy’s from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Credit Suisse Group AG downgraded Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Wednesday, September 28th. Finally, Jefferies Group reissued a “hold” rating and issued a $38.00 price target on shares of Macy’s in a report on Thursday, October 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $42.50.
Shares of Macy’s (NYSE:M) opened at 41.39 on Wednesday. Macy’s has a 12 month low of $29.94 and a 12 month high of $45.50. The stock has a market capitalization of $12.65 billion, a PE ratio of 18.84 and a beta of 0.77. The company’s 50 day moving average price is $36.85 and its 200 day moving average price is $35.63.
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 analysts’ consensus estimates of $0.41 by $0.24. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the business earned $0.56 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts anticipate that Macy’s will post $3.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders 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 yield of 3.65%. The ex-dividend date is Tuesday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 69.27%.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Macy’s by 25.1% in the second quarter. Vanguard Group Inc. now owns 23,202,656 shares of the company’s stock worth $779,840,000 after buying an additional 4,647,970 shares in the last quarter. State Street Corp boosted its position in shares of Macy’s by 0.3% in the second quarter. State Street Corp now owns 13,812,762 shares of the company’s stock worth $464,242,000 after buying an additional 46,264 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Macy’s by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 13,271,250 shares of the company’s stock worth $491,699,000 after buying an additional 192,576 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Macy’s by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,086,106 shares of the company’s stock worth $336,640,000 after buying an additional 332,523 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Macy’s by 11.3% in the second quarter. FMR LLC now owns 5,960,934 shares of the company’s stock worth $200,347,000 after buying an additional 603,525 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other 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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