Macy’s Inc (NYSE:M)’s share price shot up 6.7% during trading on Tuesday . The stock traded as high as $26.26 and last traded at $25.80. 27,017,600 shares traded hands during mid-day trading, an increase of 166% from the average session volume of 10,158,675 shares. The stock had previously closed at $24.19.
A number of equities research analysts recently commented on M shares. Vetr downgraded Macy’s from a “strong-buy” rating to a “buy” rating and set a $27.26 target price on the stock. in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating on shares of Macy’s in a research report on Thursday, September 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $23.00 target price on shares of Macy’s in a research report on Monday, September 18th. Cowen reiterated a “hold” rating and issued a $23.00 target price on shares of Macy’s in a research report on Thursday, September 28th. Finally, ValuEngine downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. Macy’s currently has an average rating of “Hold” and an average price target of $25.41.
The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The firm has a market cap of $7,681.17, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.97.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. equities research analysts expect that Macy’s Inc will post 3.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.3775 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a yield of 6.02%. Macy’s’s payout ratio is currently 66.52%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Visionary Asset Management Inc. bought a new position in shares of Macy’s during the third quarter valued at approximately $3,064,000. Wealthsource Partners LLC grew its stake in shares of Macy’s by 16.6% during the third quarter. Wealthsource Partners LLC now owns 18,780 shares of the company’s stock valued at $410,000 after buying an additional 2,675 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of Macy’s by 33.7% during the third quarter. Moors & Cabot Inc. now owns 35,675 shares of the company’s stock valued at $779,000 after buying an additional 9,000 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Macy’s during the third quarter valued at approximately $701,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Macy’s during the third quarter valued at approximately $200,000. 82.27% of the stock is currently owned by institutional investors.
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Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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