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

Equities researchers at StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a research report issued on Friday. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Tuesday, May 21st. TD Cowen upped their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $17.70.

Macy’s Stock Up 0.6 %

Shares of M opened at $17.93 on Friday. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The firm has a market cap of $4.96 billion, a P/E ratio of 597.67 and a beta of 2.18. The firm’s 50-day simple moving average is $19.02 and its 200 day simple moving average is $19.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38.

Macy’s (NYSE:M) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $0.56 EPS. Macy’s’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts forecast that Macy’s will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On Macy’s

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after acquiring an additional 2,645,577 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Macy’s by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after acquiring an additional 1,685,986 shares in the last quarter. American Century Companies Inc. boosted its stake in Macy’s by 20.8% during the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after acquiring an additional 565,269 shares in the last quarter. Norges Bank bought a new position in Macy’s during the fourth quarter worth $62,529,000. Finally, Deutsche Bank AG boosted its stake in Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after acquiring an additional 1,841,432 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.