Macy’s Inc (NYSE:M) Receives Consensus Recommendation of “Hold” from Brokerages
Macy’s Inc (NYSE:M) has received an average recommendation of “Hold” from the twenty analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.37.
A number of equities analysts have recently commented on the stock. Deutsche Bank raised their target price on shares of Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, May 16th. Goldman Sachs Group set a €28.60 ($33.26) price objective on shares of Hapag-Lloyd and gave the stock a “neutral” rating in a report on Thursday, May 16th. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Desjardins reaffirmed an “average” rating and issued a $5.25 price target on shares of Macy’s in a report on Friday, March 22nd.
Shares of NYSE:M traded up $0.55 on Friday, reaching $22.10. The company’s stock had a trading volume of 7,554,984 shares, compared to its average volume of 9,432,287. The company has a market cap of $6.66 billion, a PE ratio of 5.29, a P/E/G ratio of 0.92 and a beta of 0.54. Macy’s has a 52-week low of $20.02 and a 52-week high of $41.99. The business has a 50-day moving average price of $21.44. The company has a quick ratio of 0.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.19.
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.3775 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.83%. Macy’s’s dividend payout ratio is 36.12%.
In other news, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total value of $25,325.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Harry A. Lawton III acquired 5,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $21.37 per share, for a total transaction of $106,850.00. Following the completion of the transaction, the president now directly owns 31,038 shares of the company’s stock, valued at approximately $663,282.06. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 20,000 shares of company stock valued at $432,950. 0.55% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Liberty Wealth Management LLC bought a new stake in Macy’s in the 4th quarter valued at $34,000. Avestar Capital LLC raised its position in shares of Macy’s by 2,168.2% in the 1st quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after acquiring an additional 1,431 shares during the period. NuWave Investment Management LLC raised its position in shares of Macy’s by 730.4% in the 1st quarter. NuWave Investment Management LLC now owns 1,777 shares of the company’s stock valued at $43,000 after acquiring an additional 1,563 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of Macy’s by 841.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,864 shares of the company’s stock valued at $45,000 after acquiring an additional 1,666 shares during the period. Finally, Destination Wealth Management raised its position in shares of Macy’s by 27.1% in the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock valued at $56,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.
Macy’s Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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