BidaskClub upgraded shares of Macy’s Inc (NYSE:M) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other brokerages also recently commented on M. Royal Bank Of Canada set a $23.00 price objective on Macy’s and gave the company a hold rating in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) cut their price objective on Macy’s from $28.00 to $25.00 and set a neutral rating for the company in a research report on Wednesday, June 7th. Vetr upgraded Macy’s from a buy rating to a strong-buy rating and set a $30.62 price objective for the company in a research report on Thursday, May 11th. Gordon Haskett initiated coverage on Macy’s in a research report on Tuesday, May 9th. They set a hold rating and a $29.00 price objective for the company. Finally, Bank of America Corporation cut their price objective on Macy’s from $31.00 to $25.00 and set a neutral rating for the company in a research report on Friday, June 9th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $27.63.

Macy’s (M) traded up 2.03% during mid-day trading on Friday, hitting $21.11. The stock had a trading volume of 8,701,564 shares. The firm has a market cap of $6.43 billion, a P/E ratio of 9.60 and a beta of 0.84. Macy’s has a 12-month low of $19.32 and a 12-month high of $45.41. The stock has a 50-day moving average price of $22.08 and a 200 day moving average price of $26.15.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts anticipate that Macy’s will post $3.38 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.15%. Macy’s’s dividend payout ratio (DPR) is presently 68.64%.

In other Macy’s news, Director John A. Bryant bought 9,825 shares of the stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Gennette bought 13,085 shares of the stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the transaction, the insider now directly owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The disclosure for this purchase can be found here. Insiders have acquired 27,300 shares of company stock worth $599,686 over the last three months. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in Macy’s during the second quarter valued at approximately $335,000. Penserra Capital Management LLC increased its position in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares during the last quarter. Ffcm LLC increased its position in Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after buying an additional 3,615 shares during the last quarter. Finally, First Manhattan Co. increased its position in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after buying an additional 29 shares during the last quarter. 84.21% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Macy`s (NYSE:M)

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