Macy’s (NYSE:M) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Macy’s (NYSE:M) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

A number of other brokerages have also recently issued reports on M. Evercore ISI reduced their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. TD Cowen boosted their price objective on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Morgan Stanley cut their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and an average target price of $19.50.

Macy’s Stock Performance

M opened at $15.58 on Friday. The business’s 50-day moving average price is $17.10 and its two-hundred day moving average price is $18.61. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 519.17 and a beta of 2.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. Macy’s’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts expect that Macy’s will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling at Macy’s

In related news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the 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 completion of the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Antony Spring sold 18,981 shares of the 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 $359,879.76. Following the completion of the sale, 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 90 days, insiders sold 43,464 shares of company stock worth $824,081. 2.77% of the stock is owned by corporate insiders.

Institutional Trading of Macy’s

Institutional investors and hedge funds have recently modified their holdings of the business. Riverview Trust Co purchased a new stake in shares of Macy’s during the first quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in Macy’s in the first quarter worth $42,000. Future Financial Wealth Managment LLC purchased a new stake in Macy’s in the first quarter worth $50,000. EntryPoint Capital LLC purchased a new stake in Macy’s in the first quarter worth $51,000. Finally, Newbridge Financial Services Group Inc. increased its position in Macy’s by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 2,600 shares of the company’s stock worth $52,000 after buying an additional 2,000 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other 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.