The Northcoast Research Reiterates Neutral Rating for Macy’s Inc (M)

The Northcoast Research Reiterates Neutral Rating for Macy’s Inc (M)

A number of other equities research analysts have also weighed in on M. Zacks Investment Research lowered Macy's from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Buckingham Research lowered Macy's from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Tuesday, January 31st. OTR Global lowered Macy's to a “sell” rating in a research note on Friday, February 3rd. Vetr lowered Macy's from a “strong-buy” rating to a “buy” rating and set a $34.90 price objective for the company. in a research note on Monday, February 6th. Finally, Cowen and Company set a $44.00 price objective on Macy's and gave the company a “hold” rating in a research note on Tuesday, February 7th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.55.

Macy's Inc (NYSE:M)‘s stock had its “neutral” rating reissued by equities research analysts at Northcoast Research in a research note issued to investors on Thursday, May 11th.

Shares of Macy's (NYSE:M) opened at 23.81 on Thursday. The company’s 50-day moving average price is $26.46 and its 200 day moving average price is $31.97. Macy's has a 1-year low of $22.43 and a 1-year high of $45.41. The stock has a market cap of $7.25 billion, a PE ratio of 12.84 and a beta of 0.79.

Macy's (NYSE:M) last issued its quarterly earnings data on Thursday, May 11th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Macy's had a net margin of 2.63% and a return on equity of 24.83%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the business earned $0.40 EPS. Macy's’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities analysts forecast that Macy's will post $3.33 EPS for the current fiscal year. The firm also recently announced 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 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend is Tuesday, June 13th. Macy's’s payout ratio is currently 69.27%.

In other news, insider Molly Langenstein sold 1,251 shares of Macy's stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total transaction of $35,716.05. Following the transaction, the insider now directly owns 6,414 shares in the company, valued at approximately $183,119.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Felicia Williams sold 1,697 shares of Macy's stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $48,449.35. Following the transaction, the executive vice president now owns 1,697 shares in the company, valued at $48,449.35. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders. Several institutional investors have recently modified their holdings of the stock. DnB Asset Management AS boosted its position in shares of Macy's by 10.9% in the third quarter. DnB Asset Management AS now owns 25,538 shares of the company’s stock worth $946,000 after buying an additional 2,500 shares during the last quarter. Rothschild Asset Management Inc. boosted its position in shares of Macy's by 4.3% in the third quarter. Rothschild Asset Management Inc. now owns 13,886 shares of the company’s stock worth $514,000 after buying an additional 576 shares during the last quarter. World Asset Management Inc boosted its position in shares of Macy's by 2.2% in the third quarter. World Asset Management Inc now owns 33,637 shares of the company’s stock worth $1,246,000 after buying an additional 726 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Macy's by 29.6% in the third quarter. Wells Fargo & Company MN now owns 1,489,532 shares of the company’s stock worth $55,187,000 after buying an additional 339,800 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Macy's by 57.8% in the third quarter. APG Asset Management N.V. now owns 1,857,735 shares of the company’s stock worth $68,829,000 after buying an additional 680,700 shares during the last quarter. Institutional investors own 86.28% of the company’s stock.

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”});

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