Macy's, Inc. (NYSE:M - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $12.21, but opened at $12.84. Macy's shares last traded at $12.66, with a volume of 5,052,796 shares traded.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Barclays began coverage on Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Citigroup reissued a "neutral" rating and issued a $12.00 price objective (up from $11.00) on shares of Macy's in a report on Thursday, May 29th. The Goldman Sachs Group downgraded shares of 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. Finally, Telsey Advisory Group lowered their price target on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.78.
View Our Latest Research Report on Macy's
Macy's Trading Up 2.9%
The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The firm's 50 day simple moving average is $11.92 and its two-hundred day simple moving average is $12.86. The stock has a market capitalization of $3.55 billion, a P/E ratio of 6.63 and a beta of 1.71.
Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same period last year, the business earned $0.27 earnings per share. The business's quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.
Macy's Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 5.58%. The ex-dividend date was Friday, June 13th. Macy's's payout ratio is currently 37.06%.
Hedge Funds Weigh In On Macy's
Several large investors have recently modified their holdings of the stock. Summit Securities Group LLC boosted its holdings in shares of Macy's by 106.0% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after acquiring an additional 38,800 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Macy's in the 1st quarter worth $29,000. UMB Bank n.a. boosted its holdings in Macy's by 523.0% in the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company's stock valued at $37,000 after purchasing an additional 2,662 shares during the last quarter. Bessemer Group Inc. boosted its stake in Macy's by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after buying an additional 2,839 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Macy's by 28.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock worth $57,000 after acquiring an additional 1,087 shares in the last quarter. Institutional investors own 87.36% of the company's stock.
About Macy's
(
Get Free Report)
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.
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