Macy's, Inc., an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands. It also operates in Dubai, the United Arab Emirates, and Al Zahra, Kuwait under the license agreements. The company also operates as a beauty products and spa retailer. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy's, Inc. in June 2007. Macy's, Inc. was founded in 1830 and is based in New York, New York.
Analyst Upgrades and Downgrades
Several research firms have weighed in on M. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Macy's from $34.00 to $29.00 in a research note on Friday, May 27th. Citigroup lowered their target price on Macy's from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Friday, May 27th. Morgan Stanley raised Macy's from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $20.00 to $22.00 in a research note on Friday, May 27th. Cowen lowered their price target on Macy's to $30.00 in a research note on Friday, May 27th. Finally, Bank of America reduced their target price on shares of Macy's from $22.00 to $15.00 and set an "underperform" rating for the company in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Macy's presently has a consensus rating of "Hold" and a consensus price target of $31.00.
Macy's Price Performance
Shares of Macy's stock opened at $19.96 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.23 and a current ratio of 1.12. The firm's 50-day simple moving average is $19.07 and its 200-day simple moving average is $22.52. The firm has a market cap of $5.38 billion, a P/E ratio of 3.79, a price-to-earnings-growth ratio of 0.36 and a beta of 1.71. Macy's has a twelve month low of $15.85 and a twelve month high of $37.95.
Macy's (NYSE:M - Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.82 by $0.26. Macy's had a net margin of 6.42% and a return on equity of 56.91%. The company had revenue of $5.35 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Macy's's revenue was up 13.6% on a year-over-year basis. As a group, research analysts expect that Macy's will post 4.58 EPS for the current fiscal year.
Macy's Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were issued a $0.157 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 3.15%. Macy's's dividend payout ratio (DPR) is currently 11.98%.
Insider Activity
In other news, EVP C Elisa D. Garcia sold 15,920 shares of Macy's stock in a transaction on Monday, July 11th. The shares were sold at an average price of $17.36, for a total value of $276,371.20. Following the completion of the sale, the executive vice president now owns 85,541 shares in the company, valued at approximately $1,484,991.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP C Elisa D. Garcia sold 15,920 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $17.36, for a total transaction of $276,371.20. Following the completion of the sale, the executive vice president now directly owns 85,541 shares of the company's stock, valued at $1,484,991.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Gennette sold 78,021 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $17.36, for a total value of $1,354,444.56. Following the transaction, the chief executive officer now owns 405,744 shares of the company's stock, valued at approximately $7,043,715.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,290 shares of company stock valued at $1,636,878. 0.58% of the stock is currently owned by corporate insiders.