Analysts Set Macy’s, Inc. (NYSE:M) PT at $20.50

Shares of Macy’s, Inc. (NYSE:M) have been given an average rating of “Reduce” by the fourteen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.3333.

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Macy’s in a report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Telsey Advisory Group lifted their target price on shares of Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. Citigroup reissued a “neutral” rating on shares of Macy’s in a research note on Wednesday, February 18th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th.

Macy’s Stock Performance

NYSE M opened at $18.27 on Wednesday. Macy’s has a 52-week low of $9.76 and a 52-week high of $24.41. The company has a fifty day moving average of $21.27 and a 200-day moving average of $19.76. The company has a market capitalization of $4.86 billion, a P/E ratio of 10.81 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. As a group, equities research analysts predict that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.1915 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a dividend yield of 4.2%. Macy’s’s payout ratio is presently 43.20%.

Insider Buying and Selling

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares of the company’s stock, valued at $1,223,771.12. This represents a 62.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently modified their holdings of the company. Strengthening Families & Communities LLC bought a new stake in shares of Macy’s in the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new position in Macy’s during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC raised its position in Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Macy’s in the 3rd quarter worth approximately $31,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in Macy’s by 35.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.