Macy's, Inc. (NYSE:M) Given Consensus Rating of "Hold" by Analysts

Shares of Macy's, Inc. (NYSE:M - Get Free Report) have been given an average rating of "Hold" by the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.20.

A number of brokerages have issued reports on M. JPMorgan Chase & Co. cut their price target on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Wall Street Zen upgraded Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Telsey Advisory Group cut their price objective on Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research report on Thursday, May 29th. New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd.

Insiders Place Their Bets

In other news, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the transaction, the executive vice president now directly owns 130,491 shares of the company's stock, valued at $1,666,370.07. This represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the transaction, the chief executive officer now directly owns 321,244 shares in the company, valued at approximately $4,073,373.92. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. 1.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Macy's

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC increased its stake in Macy's by 43.8% during the first quarter. Belpointe Asset Management LLC now owns 31,961 shares of the company's stock worth $401,000 after acquiring an additional 9,731 shares during the last quarter. Focus Partners Wealth increased its position in shares of Macy's by 33.1% during the 1st quarter. Focus Partners Wealth now owns 58,197 shares of the company's stock valued at $731,000 after purchasing an additional 14,489 shares during the last quarter. Bayforest Capital Ltd bought a new position in Macy's during the first quarter valued at $720,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Macy's by 5.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company's stock valued at $14,019,000 after acquiring an additional 55,821 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Macy's by 1,037.3% during the first quarter. Empowered Funds LLC now owns 615,464 shares of the company's stock valued at $7,730,000 after acquiring an additional 561,347 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Macy's Trading Up 4.1%

Shares of M stock traded up $0.47 on Monday, hitting $11.92. 8,281,447 shares of the company's stock traded hands, compared to its average volume of 6,473,361. The company's fifty day simple moving average is $11.58 and its 200 day simple moving average is $13.93. Macy's has a one year low of $9.76 and a one year high of $20.47. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 20.21 and a beta of 1.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same period last year, the firm earned $0.27 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts forecast that Macy's will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.1824 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.12%. Macy's's dividend payout ratio is currently 37.06%.

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.