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Macy’s Inc. Shares Are Down -23.27% Since The Beginning Of The Year

Macy’s Inc. (NYSE:M) has a beta value of 1.71 and has seen 7.93 million shares traded in the last trading session. The company, currently valued at $4.47B, closed the last trade at $16.55 per share which meant it lost -$0.43 on the day or -2.53% during that session. The M stock price is -129.31% off its 52-week high price of $37.95 and 4.23% above the 52-week low of $15.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.05 million shares traded. The 3-month trading volume is 12.33 million shares.

The consensus among analysts is that Macy’s Inc. (M) is a Hold stock at the moment, with a recommendation rating of 2.80. 2 analysts rate the stock as a Sell, while 3 rate it as Overweight. 8 out of 17 have rated it as a Hold, with 3 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.87.

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Macy’s Inc. (NYSE:M) trade information

Sporting -2.53% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the M stock price touched $16.55 or saw a rise of 3.27%. Year-to-date, Macy’s Inc. shares have moved -36.78%, while the 5-day performance has seen it change -3.39%. Over the past 30 days, the shares of Macy’s Inc. (NYSE:M) have changed -14.69%. Short interest in the company has seen 27.26 million shares shorted with days to cover at 1.96.

Wall Street analysts have a consensus price target for the stock at $22.38, which means that the shares’ value could jump 26.05% from current levels. The projected low price target is $13.00 while the price target rests at a high of $30.00. In that case, then, we find that the current price level is -81.27% off the targeted high while a plunge would see the stock lose 21.45% from current levels.

Macy’s Inc. (M) estimates and forecasts

Figures show that Macy’s Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -38.20% over the past 6 months, with this year growth rate of -22.22%, compared to -30.30% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -32.60% and -62.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 0.20%.

11 analysts offering their estimates for the company have set an average revenue estimate of $5.5 billion for the current quarter. 11 have an estimated revenue figure of $5.19 billion for the next quarter concluding in Oct 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 17.50% over the past 5 years. Earnings growth for 2022 is a modest 133.50% while over the next 5 years, the company’s earnings are expected to decrease by -4.84%.

M Dividends

Macy’s Inc. is expected to release its next earnings report between February 21 and February 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.63 at a share yield of 3.81%. The company’s dividend yield has gone up over the past 12 months.

Macy’s Inc. (NYSE:M)’s Major holders

Insiders own 0.30% of the company shares, while shares held by institutions stand at 91.03% with a share float percentage of 91.31%. Investors are also buoyed by the number of investors in a company, with Macy’s Inc. having a total of 594 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 35.14 million shares worth more than $856.08 million. As of Mar 30, 2022, Blackrock Inc. held 13.03% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 30.55 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $744.2 million and represent 11.33% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. As of Mar 30, 2022, the former fund manager holds about 3.10% shares in the company for having 8.37 million shares of worth $204.01 million while later fund manager owns 8.22 million shares of worth $150.63 million as of Jun 29, 2022, which makes it owner of about 3.05% of company’s outstanding stock.

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