Macy’s, Inc. (NYSE:M – Get Free Report) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $22.00.
A number of brokerages recently issued reports on M. Telsey Advisory Group increased their price target on Macy’s from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Thursday, June 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Macy’s in a report on Monday, July 6th. Weiss Ratings raised Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Evercore set a $22.00 price target on Macy’s in a research report on Thursday, June 4th. Finally, Wall Street Zen downgraded Macy’s from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd.
View Our Latest Analysis on Macy’s
Macy’s Stock Performance
Macy’s (NYSE:M – Get Free Report) last announced its earnings results on Wednesday, June 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. Macy’s had a net margin of 2.94% and a return on equity of 13.68%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Macy’s will post 2.22 earnings per share for the current year.
Macy’s Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.1915 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.5%. Macy’s’s payout ratio is presently 31.82%.
Insider Buying and Selling
In related news, SVP Paul Griscom sold 10,077 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $25.63, for a total transaction of $258,273.51. Following the sale, the senior vice president owned 25,373 shares in the company, valued at approximately $650,309.99. This trade represents a 28.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas Jr. Edwards sold 16,419 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $24.89, for a total transaction of $408,668.91. Following the transaction, the executive vice president owned 20,000 shares of the company’s stock, valued at approximately $497,800. This represents a 45.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.05% of the company’s stock.
Institutional Trading of Macy’s
Several institutional investors and hedge funds have recently modified their holdings of M. Bank of America Corp DE lifted its stake in Macy’s by 23.4% in the 1st quarter. Bank of America Corp DE now owns 978,206 shares of the company’s stock valued at $17,696,000 after purchasing an additional 185,678 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Macy’s during the fourth quarter worth $3,524,000. Intech Investment Management LLC increased its holdings in shares of Macy’s by 540.1% during the fourth quarter. Intech Investment Management LLC now owns 125,154 shares of the company’s stock worth $2,760,000 after buying an additional 105,601 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Macy’s in the 4th quarter valued at $2,752,000. Finally, Amundi lifted its stake in shares of Macy’s by 375.7% in the 1st quarter. Amundi now owns 230,041 shares of the company’s stock valued at $4,161,000 after acquiring an additional 181,684 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.
Macy’s Company Profile
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.
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