Macy’s, Inc. (NYSE:M) Given Average Recommendation of “Reduce” by Brokerages

Shares of Macy’s, Inc. (NYSE:M) have been given an average recommendation of “Reduce” by the fourteen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.90.

M has been the topic of a number of research analyst reports. TD Cowen lowered their price objective on shares of Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. JPMorgan Chase & Co. decreased their price target on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Wall Street Zen lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Macy’s in a research note on Wednesday, March 18th. Finally, UBS Group boosted their target price on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th.

Insider Activity

In other Macy’s news, EVP Danielle L. Kirgan sold 10,010 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $179,379.20. Following the sale, the executive vice president directly owned 108,008 shares of the company’s stock, valued at $1,935,503.36. The trade was a 8.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the sale, the executive vice president directly owned 28,773 shares in the company, valued at approximately $515,612.16. This trade represents a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 94,967 shares of company stock valued at $1,705,276 in the last 90 days. Company insiders own 1.05% of the company’s stock.

Institutional Investors Weigh In On Macy’s

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Macy’s by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock worth $2,047,000 after acquiring an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Macy’s by 5.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock worth $14,019,000 after purchasing an additional 55,821 shares during the period. Focus Partners Wealth increased its holdings in shares of Macy’s by 33.1% during the 1st quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after purchasing an additional 14,489 shares during the period. Cetera Investment Advisers increased its holdings in shares of Macy’s by 49.6% during the 2nd quarter. Cetera Investment Advisers now owns 24,300 shares of the company’s stock worth $283,000 after purchasing an additional 8,053 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Macy’s by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after purchasing an additional 2,639,132 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Price Performance

NYSE M opened at $20.69 on Monday. Macy’s has a 12 month low of $10.54 and a 12 month high of $24.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. The firm has a market capitalization of $5.46 billion, a PE ratio of 8.92 and a beta of 1.47. The company’s 50 day simple moving average is $18.79 and its 200 day simple moving average is $20.45.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.48 billion. During the same quarter last year, the business earned $1.80 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Macy’s will post 2.09 EPS for the current fiscal year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s payout ratio is 32.76%.

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.