Macy’s Inc. (M) Cut to Buy at Vetr Inc.
Vetr cut shares of Macy’s Inc. (NYSE:M) from a strong-buy rating to a buy rating in a research report report published on Monday morning. They currently have $42.00 target price on the stock.
M has been the subject of a number of other reports. Stifel Nicolaus reiterated a hold rating on shares of Macy’s in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Macy’s from a sell rating to a hold rating and set a $40.00 target price for the company in a research report on Tuesday, July 26th. 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 target price for the company. Deutsche Bank AG increased their target price on shares of Macy’s from $37.00 to $40.00 and gave the company a hold rating in a research report on Friday, August 12th. Finally, Goldman Sachs Group Inc. increased their target price on shares of Macy’s from $34.00 to $39.00 and gave the company a neutral rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $43.98.
Shares of Macy’s (NYSE:M) opened at 37.54 on Monday. Macy’s has a 12-month low of $29.94 and a 12-month high of $52.48. The company has a market capitalization of $11.58 billion, a P/E ratio of 15.05 and a beta of 0.89. The stock has a 50 day moving average of $36.70 and a 200-day moving average of $36.33.
Macy’s (NYSE:M) last issued its earnings results on Thursday, August 11th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. The business earned $5.87 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. Equities research analysts forecast that Macy’s will post $3.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.02%. Macy’s’s payout ratio is currently 60.64%.
A number of hedge funds have recently added to or reduced their stakes in M. Wellington Management Group LLP acquired a new position in shares of Macy’s during the first quarter worth approximately $16,133,000. Pictet Asset Management Ltd. boosted its position in shares of Macy’s by 3.5% in the first quarter. Pictet Asset Management Ltd. now owns 277,295 shares of the company’s stock worth $11,982,000 after buying an additional 9,320 shares during the last quarter. Pacific Global Investment Management CO acquired a new position in shares of Macy’s during the first quarter worth approximately $208,000. Meeder Asset Management Inc. acquired a new position in shares of Macy’s during the first quarter worth approximately $292,000. Finally, State Street Corp boosted its position in shares of Macy’s by 0.3% in the first quarter. State Street Corp now owns 13,766,498 shares of the company’s stock worth $606,956,000 after buying an additional 39,136 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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