Macy’s (NYSE:M) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Macy’s (NYSE:M) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also commented on M. Jefferies Financial Group initiated coverage on Macy’s in a research note on Wednesday, January 14th. They set a “buy” rating and a $27.00 price objective on the stock. UBS Group set a $21.00 target price on Macy’s in a research report on Thursday, December 4th. Telsey Advisory Group increased their target price on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, December 4th. The Goldman Sachs Group raised their price target on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Finally, Zacks Research downgraded Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $20.00.

Macy’s Stock Down 1.6%

NYSE M opened at $17.97 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. Macy’s has a 1-year low of $9.76 and a 1-year high of $24.41. The company has a 50 day moving average of $21.19 and a 200-day moving average of $19.89. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 10.63 and a beta of 1.51.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.1915 per share. The ex-dividend date is Friday, March 13th. This is a boost from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.3%. Macy’s’s dividend payout ratio is currently 43.20%.

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the sale, the executive vice president owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.77% of the company’s stock.

Institutional Trading of Macy’s

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Macy’s by 38.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock worth $2,047,000 after acquiring an additional 45,149 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Macy’s by 5.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock worth $14,019,000 after purchasing an additional 55,821 shares in the last quarter. Focus Partners Wealth increased its position in Macy’s by 33.1% during the 1st quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after purchasing an additional 14,489 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Macy’s by 11.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 49,839 shares of the company’s stock valued at $581,000 after purchasing an additional 5,194 shares during the last quarter. Finally, Savant Capital LLC boosted its position in Macy’s by 86.3% in the second quarter. Savant Capital LLC now owns 59,480 shares of the company’s stock valued at $694,000 after buying an additional 27,560 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy’s

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.