Macy's, Inc. (NYSE:M) Receives $15.30 Consensus Target Price from Brokerages

Shares of Macy's, Inc. (NYSE:M - Get Free Report) have been given an average recommendation of "Hold" by the thirteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.20.

A number of research firms recently commented on M. JPMorgan Chase & Co. decreased their target price on Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday. Gordon Haskett downgraded Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group reduced their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. New Street Research set a $13.00 target price on shares of Macy's in a research report on Thursday, March 6th. Finally, StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th.

Insider Buying and Selling

In other news, CEO Antony Spring sold 20,868 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company's stock, valued at $4,073,373.92. The trade was a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares of the company's stock, valued at $59,887.64. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock worth $537,790 in the last ninety days. 2.77% of the stock is owned by insiders.

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Institutional Investors Weigh In On Macy's

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Macy's by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock worth $266,666,000 after buying an additional 1,149,454 shares during the last quarter. Cooper Creek Partners Management LLC lifted its holdings in Macy's by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after acquiring an additional 1,627,572 shares during the period. FMR LLC boosted its position in Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after purchasing an additional 2,812,151 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Macy's by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock worth $120,832,000 after purchasing an additional 774,693 shares during the period. Finally, Norges Bank purchased a new position in shares of Macy's during the 4th quarter valued at approximately $96,689,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Performance

Shares of Macy's stock traded down $0.11 on Friday, hitting $11.22. 5,041,385 shares of the company's stock were exchanged, compared to its average volume of 6,185,319. The company has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $14.96. Macy's has a 1 year low of $9.76 and a 1 year high of $20.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The stock has a market capitalization of $3.12 billion, a PE ratio of 19.01 and a beta of 1.73.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. As a group, equities analysts anticipate that Macy's will post 2.39 EPS for the current year.

Macy's Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio is currently 35.44%.

About Macy's

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.