Citigroup Boosts Macy’s (NYSE:M) Price Target to $25.00

Macy’s (NYSE:MGet Rating) had its price objective raised by Citigroup from $21.00 to $25.00 in a research report report published on Friday morning, The Fly reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group lowered their price objective on Macy’s from $30.00 to $23.00 and set a buy rating for the company in a research report on Thursday, September 15th. Telsey Advisory Group decreased their price target on Macy’s from $28.00 to $25.00 and set a market perform rating on the stock in a research note on Wednesday, August 24th. Morgan Stanley decreased their price target on Macy’s from $22.00 to $21.00 and set an equal weight rating on the stock in a research note on Wednesday, August 24th. OTR Global upgraded Macy’s from a mixed rating to a positive rating in a research note on Wednesday, November 9th. Finally, Evercore ISI decreased their price target on Macy’s from $35.00 to $30.00 and set an outperform rating on the stock in a research note on Wednesday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Macy’s has a consensus rating of Hold and a consensus target price of $25.73.

Macy’s Price Performance

M stock opened at $22.23 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.09 and a quick ratio of 0.19. The business has a 50 day simple moving average of $18.47 and a 200-day simple moving average of $19.15. The firm has a market capitalization of $6.02 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 0.45 and a beta of 1.74. Macy’s has a 1 year low of $15.10 and a 1 year high of $37.71.

Macy’s (NYSE:MGet Rating) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.33. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.20 billion. Macy’s had a return on equity of 42.58% and a net margin of 5.68%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. Equities research analysts anticipate that Macy’s will post 4.17 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.63 dividend on an annualized basis and a yield of 2.83%. Macy’s’s dividend payout ratio (DPR) is presently 13.13%.

Insider Transactions at Macy’s

In other news, SVP Paul Griscom sold 2,868 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $17.43, for a total value of $49,989.24. Following the transaction, the senior vice president now owns 4,688 shares in the company, valued at approximately $81,711.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its stake in Macy’s by 57.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,815 shares of the company’s stock worth $28,000 after buying an additional 664 shares during the last quarter. Prospera Financial Services Inc purchased a new position in Macy’s during the 1st quarter worth approximately $33,000. Monetary Management Group Inc. purchased a new position in Macy’s during the 2nd quarter worth approximately $37,000. Estabrook Capital Management lifted its position in Macy’s by 77.8% during the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after acquiring an additional 700 shares during the period. Finally, Ellevest Inc. lifted its position in Macy’s by 44.9% during the 3rd quarter. Ellevest Inc. now owns 2,604 shares of the company’s stock worth $41,000 after acquiring an additional 807 shares during the period. Hedge funds and other institutional investors own 85.57% of the company’s stock.

Macy’s Company Profile

(Get Rating)

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 January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

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