Macy’s (NYSE:M) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Macy’s (NYSE:M) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $15.00 price target on the stock.

A number of other research analysts also recently weighed in on M. UBS Group cut their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $14.00 in a report on Thursday, March 6th. Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday, March 6th. Cowen reissued a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus price target of $15.30.

Macy’s Trading Up 2.7 %

NYSE:M opened at $13.22 on Wednesday. The stock has a market cap of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. Macy’s has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock’s 50-day moving average is $14.30 and its two-hundred day moving average is $15.24.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities research analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

Insider Buying and Selling

In other Macy’s news, EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Adrian V. Mitchell sold 5,122 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $65,407.94. Following the completion of the sale, the executive vice president now owns 130,491 shares in the company, valued at approximately $1,666,370.07. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock valued at $537,790 over the last three months. 2.77% of the stock is owned by corporate insiders.

Institutional Trading of Macy’s

A number of large investors have recently bought and sold shares of M. FMR LLC increased its holdings in shares of Macy’s by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after buying an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new stake in Macy’s during the 3rd quarter valued at $594,000. HB Wealth Management LLC raised its position in Macy’s by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after purchasing an additional 91,015 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Macy’s by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after purchasing an additional 286,879 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Macy’s by 1,076.9% during the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company’s stock worth $3,027,000 after purchasing an additional 163,587 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.