Macy’s, Inc. (NYSE:M) Given Consensus Recommendation of “Reduce” by Brokerages

Macy’s, Inc. (NYSE:M) has earned a consensus rating of “Reduce” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $18.90.

Several research firms have issued reports on M. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of Macy’s in a research note on Wednesday, March 18th. Zacks Research upgraded shares of Macy’s from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. lowered their target price on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, Wall Street Zen cut shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Sunday.

Insider Buying and Selling at Macy’s

In other news, CEO Olivier Bron sold 7,228 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $129,525.76. Following the transaction, the chief executive officer owned 21,590 shares in the company, valued at $386,892.80. This represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the transaction, the chief executive officer owned 485,791 shares in the company, valued at $8,705,374.72. This trade represents a 9.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 94,967 shares of company stock worth $1,705,276 over the last quarter. Company insiders own 1.05% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently made changes to their positions in M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Macy’s by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock worth $2,047,000 after purchasing an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Macy’s by 5.3% in 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 during the period. Focus Partners Wealth lifted its stake in shares of Macy’s by 33.1% in 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 during the period. Cetera Investment Advisers lifted its stake in shares of Macy’s by 49.6% in the 2nd quarter. Cetera Investment Advisers now owns 24,300 shares of the company’s stock worth $283,000 after purchasing an additional 8,053 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Macy’s by 160.5% in the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after purchasing an additional 2,639,132 shares during the period. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

M opened at $19.28 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The stock has a market capitalization of $5.09 billion, a P/E ratio of 8.31 and a beta of 1.51. The company’s 50-day simple moving average is $18.89 and its two-hundred day simple moving average is $20.38. Macy’s has a 52-week low of $10.54 and a 52-week high of $24.41.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.12. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. As a group, analysts predict that Macy’s will post 2.09 EPS for the current year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a $0.1915 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. This represents a $0.77 annualized dividend and a dividend yield of 4.0%. Macy’s’s dividend payout ratio (DPR) is currently 32.76%.

Macy’s Company Profile

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.