Stocks: Macy’s Inc (M) Upgraded to “Strong-Buy” by Vetr Inc.

Stocks: Macy’s Inc (M) Upgraded to “Strong-Buy” by Vetr Inc.

Vetr upgraded shares of Macy's Inc (NYSE:M) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday. The firm currently has $30.62 price target on the stock.

M has been the subject of a number of other reports. Zacks Investment Research lowered Macy's from a hold rating to a sell rating in a research report on Wednesday, January 18th. OTR Global lowered Macy's to a sell rating in a research report on Friday, February 3rd. Credit Suisse Group AG reaffirmed a hold rating on shares of Macy's in a research report on Thursday, February 16th. Atlantic Securities raised Macy's from a neutral rating to an overweight rating and lifted their target price for the company from $31.72 to $36.00 in a research report on Friday, February 17th. Finally, Cowen and Company set a $44.00 price target on Macy's and gave the stock a hold rating in a research report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $36.42.

Shares of Macy's (NYSE:M) traded down 2.59% during trading on Thursday, hitting $23.72. The company had a trading volume of 12,140,524 shares. The company has a market capitalization of $7.22 billion, a P/E ratio of 11.92 and a beta of 0.79. Macy's has a 52 week low of $23.70 and a 52 week high of $45.41. The stock’s 50-day moving average price is $29.10 and its 200 day moving average price is $33.62.

Macy's (NYSE:M) last issued its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.12. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, equities research analysts forecast that Macy's will post $3.41 earnings per share for the current year.

The company also recently declared 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 6.20%. Macy's’s payout ratio is presently 69.27%.

In other Macy's news, EVP Felicia Williams sold 1,697 shares of the business’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $28.55, for a total transaction of $48,449.35. Following the sale, the executive vice president now owns 1,697 shares in the company, valued at approximately $48,449.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Molly Langenstein sold 1,251 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $35,716.05. Following the sale, the insider now owns 6,414 shares in the company, valued at approximately $183,119.70. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Wellington Shields & Co. LLC increased its stake in Macy's by 40.7% in the third quarter. Wellington Shields & Co. LLC now owns 38,000 shares of the company’s stock valued at $1,408,000 after buying an additional 11,000 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp increased its stake in Macy's by 142.6% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 79,586 shares of the company’s stock valued at $2,949,000 after buying an additional 46,777 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. increased its stake in Macy's by 18.5% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 593,367 shares of the company’s stock valued at $21,984,000 after buying an additional 92,478 shares during the last quarter. APG Asset Management N.V. increased its stake in 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 valued at $68,829,000 after buying an additional 680,700 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Macy's by 29.6% in the third quarter. Wells Fargo & Company MN now owns 1,489,532 shares of the company’s stock valued at $55,187,000 after buying an additional 339,800 shares during the last quarter. Institutional investors and hedge funds own 86.28% of the company’s stock.

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.

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

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