Vetr upgraded shares of Macy’s Inc. (NYSE:M) from a sell rating to a hold rating in a research note released on Thursday. Vetr currently has $44.05 price objective on the stock.

A number of other research firms have also commented on M. Jefferies Group reissued a hold rating and issued a $40.00 price objective on shares of Macy’s in a research note on Friday, November 11th. Zacks Investment Research raised Macy’s from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research note on Tuesday, August 16th. Morgan Stanley reissued an equal weight rating and issued a $35.00 price objective (down previously from $37.00) on shares of Macy’s in a research note on Saturday, August 13th. RBC Capital Markets reissued a sector perform rating and issued a $40.00 price objective (up previously from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Finally, Goldman Sachs Group Inc. boosted their price objective on Macy’s from $34.00 to $39.00 and gave the stock a neutral rating in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $42.82.

Analyst Recommendations for Macy`s (NYSE:M)

Macy’s (NYSE:M) opened at 42.49 on Thursday. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 19.34 and a beta of 0.77. The company has a 50 day moving average price of $38.69 and a 200-day moving average price of $35.99. Macy’s has a 52-week low of $29.94 and a 52-week high of $45.50.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. The company earned $5.63 billion during the quarter, compared to analyst estimates of $5.65 billion. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. Macy’s’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. Equities research analysts anticipate that Macy’s will post $3.29 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.51 annualized dividend and a yield of 3.55%. Macy’s’s dividend payout ratio (DPR) is presently 69.27%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. boosted its position in shares of Macy’s by 0.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 5,998 shares of the company’s stock valued at $202,000 after buying an additional 40 shares during the period. Conning Inc. boosted its position in shares of Macy’s by 0.9% in the third quarter. Conning Inc. now owns 8,086 shares of the company’s stock valued at $300,000 after buying an additional 70 shares during the period. Delphi Management Inc. MA boosted its position in shares of Macy’s by 0.5% in the third quarter. Delphi Management Inc. MA now owns 13,694 shares of the company’s stock valued at $507,000 after buying an additional 70 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Macy’s by 0.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,896 shares of the company’s stock valued at $903,000 after buying an additional 72 shares during the period. Finally, First Manhattan Co. boosted its position in shares of Macy’s by 2.2% in the third quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after buying an additional 110 shares during the period. 85.30% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

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.

5 Day Chart for NYSE:M

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

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