Gordon Haskett downgraded shares of Macy’s (NYSE:M) from a buy rating to a hold rating in a report issued on Thursday morning, Marketbeat Ratings reports.

A number of other equities research analysts also recently commented on M. Zacks Investment Research reaffirmed a hold rating and set a $43.00 target price on shares of Macy’s in a report on Wednesday, November 14th. ValuEngine raised Macy’s from a strong sell rating to a sell rating in a report on Wednesday, January 2nd. Bank of America downgraded Macy’s from a neutral rating to an underperform rating in a report on Thursday. Atlantic Securities downgraded Macy’s from a neutral rating to an underweight rating and decreased their target price for the stock from $39.00 to $28.00 in a report on Thursday, December 6th. Finally, Deutsche Bank lifted their target price on Macy’s from $35.00 to $38.00 and gave the stock a hold rating in a report on Thursday, November 15th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Macy’s has a consensus rating of Hold and an average target price of $33.26.

Shares of M stock opened at $25.42 on Thursday. Macy’s has a fifty-two week low of $22.47 and a fifty-two week high of $41.99. The stock has a market cap of $9.75 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.91 and a beta of 0.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.35.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Macy’s will post 4.09 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th were issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date was Thursday, December 13th. Macy’s’s payout ratio is presently 40.05%.

In other Macy’s news, President Harry A. Lawton III sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $33.09, for a total value of $6,618,000.00. Following the completion of the transaction, the president now directly owns 226,038 shares of the company’s stock, valued at $7,479,597.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Lenehan purchased 3,154 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average cost of $31.74 per share, with a total value of $100,107.96. Following the completion of the acquisition, the director now directly owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The disclosure for this purchase can be found here. Insiders own 2.36% of the company’s stock.

Several institutional investors have recently bought and sold shares of M. AQR Capital Management LLC increased its position in shares of Macy’s by 88.7% in the third quarter. AQR Capital Management LLC now owns 11,960,108 shares of the company’s stock valued at $415,374,000 after buying an additional 5,620,910 shares in the last quarter. Vanguard Group Inc increased its position in shares of Macy’s by 6.5% in the third quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock valued at $1,222,675,000 after buying an additional 2,133,597 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Macy’s by 998.6% in the third quarter. Janus Henderson Group PLC now owns 2,135,151 shares of the company’s stock valued at $74,153,000 after buying an additional 1,940,793 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Macy’s by 290.3% in the third quarter. TIAA CREF Investment Management LLC now owns 2,597,586 shares of the company’s stock valued at $90,214,000 after buying an additional 1,932,030 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Macy’s by 87.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,760,431 shares of the company’s stock valued at $130,745,000 after buying an additional 1,750,507 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Analyst Recommendations for Macy`s (NYSE:M)

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