Macy’s Inc (M) Given a $21.00 Price Target by Royal Bank Of Canada Analysts
Royal Bank Of Canada set a $21.00 price target on Macy’s Inc (NYSE:M) in a research note published on Friday, Marketbeat reports. The firm currently has a sector perform rating on the stock.
A number of other research firms have also recently commented on M. BidaskClub cut Macy’s from a hold rating to a sell rating in a report on Saturday, August 19th. Zacks Investment Research cut Macy’s from a hold rating to a sell rating in a report on Wednesday, October 11th. Vetr cut Macy’s from a strong-buy rating to a buy rating and set a $26.02 price target on the stock. in a report on Thursday, July 27th. BMO Capital Markets reissued an outperform rating on shares of Macy’s in a report on Thursday, September 14th. Finally, ValuEngine cut Macy’s from a buy rating to a hold rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $27.18.
Shares of Macy’s (NYSE:M) opened at 21.33 on Friday. The company’s 50 day moving average price is $21.25 and its 200-day moving average price is $23.27. Macy’s has a 1-year low of $19.32 and a 1-year high of $45.41. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 9.70 and a beta of 0.87.
Macy’s (NYSE:M) last announced its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the firm earned $0.51 EPS. Macy’s’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that Macy’s will post $3.39 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were given a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.51 annualized dividend and a dividend yield of 7.08%. 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 company’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $20.32 per share, for a total transaction 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 $199,644. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in M. Nationwide Fund Advisors raised its stake in Macy’s by 8.6% in the third quarter. Nationwide Fund Advisors now owns 93,443 shares of the company’s stock worth $2,039,000 after buying an additional 7,372 shares in the last quarter. Sanders Morris Harris LLC raised its stake in Macy’s by 28.2% in the third quarter. Sanders Morris Harris LLC now owns 296,900 shares of the company’s stock worth $6,478,000 after buying an additional 65,300 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its stake in Macy’s by 18.8% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 19,608 shares of the company’s stock worth $428,000 after buying an additional 3,108 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in Macy’s by 57.8% in the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after buying an additional 821,366 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. bought a new position in Macy’s in the third quarter worth approximately $524,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.
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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