Macy’s, Inc. (NYSE:M) Receives $14.00 Average PT from Analysts

Macy’s, Inc. (NYSE:M) has received an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.00.

M has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Telsey Advisory Group restated a “market perform” rating and set a $15.00 target price on shares of Macy’s in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered Macy’s from a “buy” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. New Street Research set a $13.00 price objective on shares of Macy’s in a research note on Thursday, March 6th. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th.

Insider Buying and Selling at Macy’s

In other news, CEO Antony Spring sold 3,124 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares of the company’s stock, valued at $3,746,623.20. The trade was a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Adrian V. Mitchell sold 3,489 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,751 shares of company stock worth $537,790. Insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Macy’s during the 3rd quarter worth about $221,000. Nordea Investment Management AB grew its holdings in shares of Macy’s by 4.0% during the fourth quarter. Nordea Investment Management AB now owns 273,872 shares of the company’s stock worth $4,671,000 after buying an additional 10,541 shares in the last quarter. Range Financial Group LLC bought a new position in shares of Macy’s during the fourth quarter worth about $285,000. Wedmont Private Capital raised its position in Macy’s by 17.2% in the 4th quarter. Wedmont Private Capital now owns 22,141 shares of the company’s stock valued at $351,000 after buying an additional 3,254 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in Macy’s by 65.5% in the 4th quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company’s stock valued at $126,000 after acquiring an additional 2,967 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Price Performance

M stock opened at $11.66 on Thursday. Macy’s has a one year low of $9.76 and a one year high of $20.70. The firm has a 50-day moving average of $12.19 and a two-hundred day moving average of $14.39. The firm has a market capitalization of $3.25 billion, a PE ratio of 19.76 and a beta of 1.77. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, analysts forecast that Macy’s will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.26%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Macy’s’s payout ratio is 35.44%.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.