Gordon Haskett lowered shares of Macy’s (NYSE:M) from a buy rating to a hold rating in a report released on Thursday morning, MarketBeat.com reports.
Several other research analysts have also weighed in on the company. Bank of America lowered Macy’s from a neutral rating to an underperform rating in a research report on Thursday. ValuEngine raised shares of Macy’s from a strong sell rating to a sell rating in a report on Wednesday, January 2nd. Atlantic Securities lowered shares of Macy’s from a neutral rating to an underweight rating and reduced their price target for the company from $39.00 to $28.00 in a research report on Thursday, December 6th. Canaccord Genuity upgraded shares of Macy’s from an average rating to a buy rating and set a $5.50 target price for the company in a research report on Friday, November 16th. Finally, Deutsche Bank upped their price target on shares of Macy’s from $35.00 to $38.00 and gave the company a hold rating in a research report on Thursday, November 15th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $33.26.
Shares of M stock traded down $0.69 on Thursday, reaching $25.42. 20,290,981 shares of the stock were exchanged, compared to its average volume of 14,045,717. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. Macy’s has a one year low of $22.47 and a one year high of $41.99. The company has a market cap of $9.75 billion, a P/E ratio of 6.74, a PEG ratio of 0.91 and a beta of 0.67.
Macy’s (NYSE:M) last released its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. Macy’s’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Macy’s will post 4.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 5.94%. The ex-dividend date was Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is currently 40.05%.
In related news, Director William H. Lenehan purchased 3,154 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was acquired at an average price of $31.74 per share, for a total transaction of $100,107.96. Following the transaction, the director now directly owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Harry A. Lawton III sold 200,000 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $33.09, for a total value of $6,618,000.00. Following the completion of the sale, the president now directly owns 226,038 shares of the company’s stock, valued at $7,479,597.42. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Princeton Capital Management LLC acquired a new position in shares of Macy’s during the third quarter worth about $104,000. Qube Research & Technologies Ltd acquired a new stake in shares of Macy’s in the 2nd quarter valued at $150,000. First Hawaiian Bank bought a new position in shares of Macy’s in the 3rd quarter valued at $147,000. Vectors Research Management LLC bought a new position in Macy’s during the 3rd quarter worth $164,000. Finally, Harvest Fund Management Co. Ltd raised its position in Macy’s by 39.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,655 shares of the company’s stock worth $196,000 after purchasing an additional 1,588 shares during the last quarter. 91.04% of the stock is currently owned by institutional investors.
Macy’s Company Profile
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 April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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