StockNews.com Begins Coverage on Macy’s (NYSE:M)

Investment analysts at StockNews.com started coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

M has been the subject of several other research reports. Evercore ISI cut their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Finally, Morgan Stanley lowered their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $19.50.

Macy’s Trading Down 0.2 %

Shares of M stock opened at $15.30 on Monday. The business’s 50 day moving average is $15.90 and its two-hundred day moving average is $18.12. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a market cap of $4.23 billion, a PE ratio of 510.00 and a beta of 2.11.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. Equities analysts predict that Macy’s will post 2.72 EPS for the current year.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,665 shares of company stock worth $842,372. Insiders own 2.77% of the company’s stock.

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of Macy’s in the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new stake in Macy’s in the 1st quarter valued at about $42,000. Future Financial Wealth Managment LLC purchased a new stake in Macy’s during the first quarter valued at about $50,000. EntryPoint Capital LLC purchased a new stake in Macy’s during the first quarter valued at about $51,000. Finally, Abich Financial Wealth Management LLC bought a new position in Macy’s during the second quarter worth about $57,000. 87.36% of the stock is owned by institutional investors.

About Macy’s

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.