In yesterday’s Wall Street session, Macy’s Inc. (NYSE:M) shares traded at $11.14, down -1.94% from the previous session.
As of this writing, 16 analysts cover Macy’s Inc. (NYSE:M). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $10.00, we find $15.40. Given the previous closing price of $11.36, this indicates a potential upside of 35.56 percent. M stock price is now -23.56% away from the 50-day moving average and -37.84% away from the 200-day moving average. The market capitalization of the company currently stands at $3.11B.
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There are 7 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $15.57 as their price target over the next twelve months.
With the price target reduced from $16 to $14, Telsey Advisory Group maintained Market Perform rating for Macy’s Inc. (NYSE: M).
In other news, Griscom Paul, SVP and Controller sold 1,212 shares of the company’s stock on Sep 05. The stock was sold for $14,817 at an average price of $12.22. Upon completion of the transaction, the SVP and Controller now directly owns 14,727 shares in the company, valued at $0.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 11, EVP, Chief Transformation & HR Kirgan Danielle L. sold 25,000 shares of the business’s stock. A total of $416,460 was realized by selling the stock at an average price of $16.66. This leaves the insider owning 278,272 shares of the company worth $3.1 million. Insiders disposed of 870,625 shares of company stock worth roughly $9.7 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in M stock. A new stake in Macy’s Inc. shares was purchased by GOLDENTREE ASSET MANAGEMENT LP during the first quarter worth $18,710,000. JUNTO CAPITAL MANAGEMENT LP invested $17,884,000 in shares of M during the first quarter. In the first quarter, INTERVAL PARTNERS, LP acquired a new stake in Macy’s Inc. valued at approximately $7,443,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in M for approximately $5,766,000. CARTENNA CAPITAL, LP purchased a new stake in M valued at around $5,570,000 in the second quarter. In total, there are 571 active investors with 83.60% ownership of the company’s stock.
During the past 12 months, Macy’s Inc. has had a low of $11.22 and a high of $25.12. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 1.30, and a quick ratio of 0.30. The fifty day moving average price for M is $14.48 and a two-hundred day moving average price translates $17.86 for the stock.
The latest earnings results from Macy’s Inc. (NYSE: M) was released for Jul, 2023. According to the Department Stores Company, earnings per share came in at $0.26, beating analysts’ expectations of $0.13 by 0.13. This compares to $0.99 EPS in the same period last year. The net profit margin was 3.10% and return on equity was 18.80% for M. The company reported revenue of $5.28 billion for the quarter, compared to $5.83 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.5 percent. For the current quarter, analysts expect M to generate $4.81B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/15/2023 were paid a $0.1654 dividend. On an annualized basis, this represents a $0.66 dividend and a 5.94% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, M is presently at 24.90%.
Macy’s Inc.(M) Company Profile
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. It also operates in Dubai, the United Arab Emirates, and Al Zahra, Kuwait under the license agreements. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. The company was founded in 1830 and is based in New York, New York.
