Macy’s, Inc. (NYSE:M) Given Consensus Rating of “Hold” by Analysts

Posted by Defense World Staff on Jun 8th, 2023

Macy's logo Macy’s, Inc. (NYSE:M – Get Rating) has earned an average rating of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $20.67.

M has been the subject of several research reports. StockNews.com initiated coverage on Macy’s in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $25.00 target price on shares of Macy’s in a research report on Thursday, March 30th. JPMorgan Chase & Co. cut their price objective on Macy’s from $26.00 to $23.00 in a report on Friday, June 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Macy’s from $20.00 to $18.00 in a report on Friday, June 2nd. Finally, Credit Suisse Group lifted their price objective on Macy’s from $19.00 to $20.00 and gave the company an “underperform” rating in a report on Friday, March 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Macy’s by 1.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 46,490 shares of the company’s stock worth $960,000 after purchasing an additional 728 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Macy’s during the 4th quarter worth $210,000. AlphaCrest Capital Management LLC acquired a new stake in shares of Macy’s during the 3rd quarter worth $243,000. Kepos Capital LP acquired a new stake in shares of Macy’s during the 4th quarter worth $124,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Macy’s by 137.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,085,398 shares of the company’s stock worth $79,688,000 after purchasing an additional 2,943,484 shares in the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.

Macy’s Trading Up 1.9 %

Shares of Macy’s stock opened at $16.21 on Thursday. The company’s fifty day simple moving average is $16.14 and its 200-day simple moving average is $19.63. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 4.30, a PEG ratio of 0.40 and a beta of 1.81. The company has a current ratio of 1.22, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72. Macy’s has a 1 year low of $12.80 and a 1 year high of $25.12.

Macy’s (NYSE:M – Get Rating) last issued its earnings results on Thursday, June 1st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Macy’s had a return on equity of 28.86% and a net margin of 4.31%. Macy’s’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $1.08 earnings per share. As a group, sell-side analysts expect that Macy’s will post 3.13 EPS for the current year.

Macy’s Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Wednesday, June 14th. Macy’s’s dividend payout ratio is currently 17.51%.

Macy’s Company Profile

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Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.