Macy’s (M) Reaches New 52-Week Low at $20.57

Macy’s Inc (NYSE:M) shares hit a new 52-week low on Wednesday . The company traded as low as $20.57 and last traded at $20.82, with a volume of 45744 shares. The stock had previously closed at $21.04.

A number of research analysts have weighed in on the company. UBS Group set a $25.00 price target on Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Zacks Investment Research raised Macy’s from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Deutsche Bank increased their target price on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, May 16th. Goldman Sachs Group raised Macy’s from a “sell” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $21.00 in a research report on Thursday, May 16th. Finally, Standpoint Research raised Macy’s from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Macy’s currently has an average rating of “Hold” and a consensus target price of $27.17.

The company has a quick ratio of 0.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 4.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.41.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Analysts predict that Macy’s Inc will post 3.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.51 annualized dividend and a dividend yield of 7.28%. Macy’s’s dividend payout ratio is presently 36.12%.

In other news, Chairman Jeffrey Gennette purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average cost of $21.96 per share, for a total transaction of $109,800.00. Following the completion of the purchase, the chairman now owns 102,525 shares of the company’s stock, valued at $2,251,449. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joyce M. Roche sold 10,000 shares of Macy’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total value of $243,000.00. Following the completion of the transaction, the director now owns 13,647 shares of the company’s stock, valued at $331,622.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 20,000 shares of company stock valued at $432,950 and have sold 16,921 shares valued at $421,238. 0.55% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Private Capital Group LLC lifted its holdings in Macy’s by 110.1% in the fourth quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock worth $30,000 after acquiring an additional 525 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $34,000. We Are One Seven LLC bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $35,000. Avestar Capital LLC raised its holdings in shares of Macy’s by 2,168.2% during the first quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after buying an additional 1,431 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Macy’s during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.85% of the company’s stock.

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Macy’s Company Profile (NYSE:M)

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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