Macy’s Inc. (M) Now Covered by Guggenheim
Stock analysts at Guggenheim assumed coverage on shares of Macy’s Inc. (NYSE:M) in a report issued on Friday. The brokerage set a “buy” rating and a $45.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 24.04% from the stock’s current price.
Several other equities analysts also recently commented on the stock. Vetr raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $35.17 target price on the stock in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, August 16th. Standpoint Research assumed coverage on shares of Macy’s in a research report on Thursday, August 25th. They issued a “buy” rating and a $72.00 price target on the stock. Citigroup Inc. upgraded shares of Macy’s from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.42 to $44.00 in a research report on Wednesday, September 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $35.00 price objective (down previously from $37.00) on shares of Macy’s in a research report on Saturday, August 13th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.98.
Macy’s (NYSE:M) opened at 36.28 on Friday. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 14.55 and a beta of 0.89. Macy’s has a one year low of $29.94 and a one year high of $52.48. The stock has a 50 day moving average of $37.25 and a 200-day moving average of $36.55.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities analysts predict that Macy’s will post $3.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 4.16%. The ex-dividend date was Tuesday, September 13th. Macy’s’s dividend payout ratio (DPR) is 60.64%.
Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services Inc raised its stake in Macy’s by 46.1% in the first quarter. Commonwealth Equity Services Inc now owns 20,884 shares of the company’s stock valued at $921,000 after buying an additional 6,592 shares during the period. Aperio Group LLC increased its stake in shares of Macy’s by 73.2% in the first quarter. Aperio Group LLC now owns 194,340 shares of the company’s stock valued at $8,568,000 after buying an additional 82,164 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Macy’s during the first quarter valued at about $304,000. IFP Advisors Inc increased its position in Macy’s by 18.1% in the first quarter. IFP Advisors Inc now owns 7,585 shares of the company’s stock valued at $334,000 after buying an additional 1,165 shares during the period. Finally, CIBC World Markets Inc. increased its position in Macy’s by 31.3% in the first quarter. CIBC World Markets Inc. now owns 59,858 shares of the company’s stock valued at $2,639,000 after buying an additional 14,271 shares during the period. 83.27% of the stock is currently owned by institutional investors.
Macy’s Company Profile
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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