Macy’s Inc. (M) Upgraded at Vetr Inc.
Macy’s Inc. (NYSE:M) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $46.08 target price on the stock. Vetr‘s target price would indicate a potential upside of 8.45% from the company’s previous close.
Other analysts also recently issued reports about the stock. Standpoint Research started coverage on shares of Macy’s in a report on Thursday, August 25th. They set a “buy” rating and a $72.00 target price on the stock. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, August 16th. Citigroup Inc. upgraded shares of 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. Guggenheim started coverage on shares of Macy’s in a report on Friday, September 30th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Deutsche Bank AG upgraded shares of Macy’s from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $45.00 in a report on Monday, October 31st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the company. Macy’s presently has an average rating of “Hold” and an average target price of $42.82.
Shares of Macy’s (NYSE:M) opened at 42.49 on Wednesday. The company has a market capitalization of $12.99 billion, a P/E ratio of 19.34 and a beta of 0.77. Macy’s has a 12-month low of $29.94 and a 12-month high of $45.50. The company’s 50 day moving average is $38.69 and its 200 day moving average is $35.99.
Macy’s (NYSE:M) last announced its earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.41 by $0.24. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.65 billion. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. Analysts expect that Macy’s will post $3.29 earnings per share for the current fiscal year.
The business 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 of this dividend is Tuesday, December 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 3.55%. Macy’s’s dividend payout ratio (DPR) is currently 69.27%.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Manhattan Co. boosted its position in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock worth $166,000 after buying an additional 1,796 shares during the period. MAI Capital Management boosted its position in Macy’s by 16.0% in the second quarter. MAI Capital Management now owns 66,893 shares of the company’s stock worth $2,248,000 after buying an additional 9,228 shares during the period. NN Investment Partners Holdings N.V. boosted its position in Macy’s by 31.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 863,631 shares of the company’s stock worth $29,025,000 after buying an additional 205,400 shares during the period. Breton Hill Capital Ltd. boosted its position in Macy’s by 25.0% in the second quarter. Breton Hill Capital Ltd. now owns 25,898 shares of the company’s stock worth $870,000 after buying an additional 5,184 shares during the period. Finally, Creative Planning boosted its position in Macy’s by 4.5% in the second quarter. Creative Planning now owns 14,694 shares of the company’s stock worth $494,000 after buying an additional 637 shares during the period. 85.30% 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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