Macy’s Inc. (NYSE:M) was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating in a note issued to investors on Thursday. The brokerage presently has a $44.05 target price on the stock. Vetr‘s price target indicates a potential downside of 1.91% from the company’s previous close.

Several other brokerages also recently issued reports on M. RBC Capital Markets reiterated a “sector perform” rating and issued a $40.00 target price (up previously from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Deutsche Bank AG raised shares of Macy’s from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $45.00 in a report on Monday, October 31st. Guggenheim began coverage on shares of Macy’s in a report on Friday, September 30th. They set a “buy” rating and a $45.00 price objective for the company. Telsey Advisory Group boosted their price objective on shares of Macy’s from $36.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, August 12th. Finally, Zacks Investment Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 5th. 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 an average rating of “Hold” and a consensus price target of $42.73.

Analyst Recommendations for Macy`s (NYSE:M)

Shares of Macy’s (NYSE:M) traded up 1.01% on Thursday, reaching $44.91. 5,411,744 shares of the company’s stock traded hands. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 20.44 and a beta of 0.77. Macy’s has a 52-week low of $29.94 and a 52-week high of $45.50. The firm’s 50-day moving average is $38.30 and its 200-day moving average is $35.80.

Macy’s (NYSE:M) last issued its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the 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 return on equity of 24.83% and a net margin of 2.63%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 EPS. Analysts anticipate that Macy’s will post $3.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be issued a $0.3775 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 3.36%. Macy’s’s dividend payout ratio (DPR) is presently 69.27%.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Macy’s by 25.1% in the second quarter. Vanguard Group Inc. now owns 23,202,656 shares of the company’s stock valued at $779,840,000 after buying an additional 4,647,970 shares during the period. State Street Corp increased its position in Macy’s by 0.3% in the second quarter. State Street Corp now owns 13,812,762 shares of the company’s stock valued at $464,242,000 after buying an additional 46,264 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 valued at $491,699,000 after buying an additional 192,576 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in 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 valued at $336,640,000 after buying an additional 332,523 shares in the last quarter. Finally, FMR LLC increased its position in Macy’s by 11.3% in the second quarter. FMR LLC now owns 5,960,934 shares of the company’s stock valued at $200,347,000 after buying an additional 603,525 shares in the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.

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About Macy’s

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.

5 Day Chart for NYSE:M

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