The Macy’s Inc (M) Upgraded by Vetr Inc. to Strong-Buy

The Macy’s Inc (M) Upgraded by Vetr Inc. to Strong-Buy

Several other analysts have also recently issued reports on M. Zacks Investment Research cut shares of Macy's from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. Buckingham Research cut shares of Macy's from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Tuesday, January 31st. OTR Global cut shares of Macy's to a “sell” rating in a report on Friday, February 3rd. Cowen and Company set a $44.00 target price on shares of Macy's and gave the stock a “hold” rating in a report on Tuesday, February 7th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $34.00 target price on shares of Macy's in a report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.55.

Macy's Inc (NYSE:M) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday, May 11th. The brokerage currently has a $30.62 target price on the stock. Vetr‘s price objective points to a potential upside of 28.60% from the stock’s current price.

Macy's (NYSE:M) opened at 23.81 on Thursday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 12.84 and a beta of 0.79. The company has a 50-day moving average price of $26.46 and a 200 day moving average price of $31.97. Macy's has a 52-week low of $22.43 and a 52-week high of $45.41.

Macy's (NYSE:M) last posted its quarterly earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.12. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.49 billion. Macy's had a net margin of 2.63% and a return on equity of 24.83%. The company’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. On average, analysts expect that Macy's will post $3.33 earnings per share for the current year. The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend is Tuesday, June 13th. Macy's’s dividend payout ratio is presently 69.27%.

In other Macy's news, EVP Felicia Williams sold 1,697 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total transaction of $48,449.35. Following the completion of the sale, the executive vice president now directly owns 1,697 shares of the company’s stock, valued at $48,449.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Molly Langenstein sold 1,251 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total transaction of $35,716.05. Following the sale, the insider now directly owns 6,414 shares of the company’s stock, valued at $183,119.70. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders. Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Macy's by 2,606.3% in the first quarter. BlackRock Inc. now owns 24,416,816 shares of the company’s stock worth $723,716,000 after buying an additional 23,514,600 shares in the last quarter. Norges Bank purchased a new position in Macy's during the fourth quarter worth approximately $136,099,000. Levin Capital Strategies L.P. purchased a new position in Macy's during the first quarter worth approximately $73,163,000. Skandinaviska Enskilda Banken AB publ increased its position in Macy's by 3,862.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,136,002 shares of the company’s stock worth $79,139,000 after buying an additional 2,082,100 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Macy's during the fourth quarter worth approximately $73,878,000. 86.28% of the stock is owned by institutional investors and hedge funds.

About Macy's Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “M”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view Vetr’s full report, visit Vetr’s official website.

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