Deutsche Bank Aktiengesellschaft Trims Macy’s (NYSE:M) Target Price to $24.00

Macy’s (NYSE:MGet Rating) had its price target decreased by Deutsche Bank Aktiengesellschaft from $25.00 to $24.00 in a report released on Friday morning, The Fly reports.

Several other research firms have also weighed in on M. Telsey Advisory Group dropped their price objective on shares of Macy’s from $28.00 to $25.00 and set a market perform rating for the company in a report on Wednesday, August 24th. StockNews.com assumed coverage on shares of Macy’s in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Jefferies Financial Group reduced their price target on shares of Macy’s from $30.00 to $23.00 and set a buy rating on the stock in a research report on Thursday, September 15th. Morgan Stanley reduced their price target on shares of Macy’s from $22.00 to $21.00 and set an equal weight rating on the stock in a research report on Wednesday, August 24th. Finally, OTR Global raised shares of Macy’s from a mixed rating to a positive rating in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $25.73.

Macy’s Stock Performance

NYSE M opened at $22.23 on Friday. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 0.45 and a beta of 1.74. The company has a 50 day moving average of $18.47 and a 200-day moving average of $19.15. The company has a current ratio of 1.09, a quick ratio of 0.19 and a debt-to-equity ratio of 0.86. 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 data on Thursday, November 17th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.33. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.20 billion. Macy’s had a net margin of 5.68% and a return on equity of 42.58%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. On average, equities analysts forecast that Macy’s will post 4.17 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.63 annualized dividend and a yield of 2.83%. Macy’s’s payout ratio is currently 13.13%.

Insider Transactions at Macy’s

In other news, SVP Paul Griscom sold 2,868 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $17.43, for a total transaction of $49,989.24. Following the transaction, the senior vice president now directly owns 4,688 shares in the company, valued at approximately $81,711.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of M. Quadrant Capital Group LLC boosted its holdings in shares of 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 period. Prospera Financial Services Inc bought a new stake in shares of Macy’s during the 1st quarter worth about $33,000. Monetary Management Group Inc. bought a new stake in shares of Macy’s during the 2nd quarter worth about $37,000. Estabrook Capital Management boosted its holdings in shares of 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 buying an additional 700 shares during the period. Finally, Ellevest Inc. boosted its holdings in shares of 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 buying an additional 807 shares during the period. 85.57% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

The Fly logo

Analyst Recommendations for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.