StockNews.com Begins Coverage on Macy’s (NYSE:M)

StockNews.com started coverage on shares of Macy’s (NYSE:M) in a research report released on Monday. The firm issued a hold rating on the stock.

M has been the subject of a number of other research reports. Telsey Advisory Group reaffirmed a market perform rating and set a $21.00 price objective on shares of Macy’s in a research report on Tuesday, May 21st. TD Cowen boosted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a hold rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an overweight rating in a research report on Wednesday, May 22nd. Finally, Evercore ISI decreased their target price on shares of Macy’s from $22.00 to $17.00 and set an in-line rating for the company in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s currently has a consensus rating of Hold and an average price target of $18.10.

Macy’s Stock Performance

Shares of M stock opened at $16.78 on Monday. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The firm has a market capitalization of $4.64 billion, a P/E ratio of 559.33 and a beta of 2.18. The company’s fifty day moving average price is $18.29 and its two-hundred day moving average price is $18.95.

Macy’s (NYSE:M) last released its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS. On average, research analysts anticipate that Macy’s will post 2.79 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.14%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Insider Activity

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the transaction, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold 43,464 shares of company stock worth $824,081 over the last 90 days. 2.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of M. Glassman Wealth Services boosted its holdings in shares of Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Riverview Trust Co bought a new stake in shares of Macy’s during the 1st quarter worth $27,000. Fidelis Capital Partners LLC bought a new stake in shares of Macy’s during the 1st quarter worth $42,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Macy’s during the 1st quarter worth $50,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.