Macy’s Inc (NYSE:M) Given Average Rating of “Hold” by Brokerages

Shares of Macy’s Inc (NYSE:M) have been assigned an average recommendation of “Hold” from the twenty research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.37.

A number of equities analysts recently commented on M shares. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank lifted their price target on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, May 16th. UBS Group set a $25.00 target price on Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Goldman Sachs Group upgraded Macy’s from a “sell” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $21.00 in a research note on Thursday, May 16th.

In other Macy’s news, CFO Paula A. Price sold 1,189 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey Gennette purchased 5,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $21.96 per share, for a total transaction of $109,800.00. Following the acquisition, the chairman now directly owns 102,525 shares of the company’s stock, valued at approximately $2,251,449. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 20,000 shares of company stock worth $432,950. 0.55% of the stock is owned by corporate insiders.



Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Macy’s by 0.4% during the 1st quarter. BlackRock Inc. now owns 30,073,924 shares of the company’s stock worth $722,677,000 after purchasing an additional 121,302 shares in the last quarter. Yacktman Asset Management LP purchased a new position in Macy’s during the 2nd quarter worth approximately $237,280,000. Geode Capital Management LLC grew its position in Macy’s by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock worth $153,359,000 after purchasing an additional 355,028 shares in the last quarter. Prudential Financial Inc. grew its position in Macy’s by 27.8% during the 2nd quarter. Prudential Financial Inc. now owns 4,474,936 shares of the company’s stock worth $96,032,000 after purchasing an additional 973,117 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Macy’s by 4.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,393,777 shares of the company’s stock worth $72,831,000 after purchasing an additional 145,985 shares in the last quarter. 90.71% of the stock is currently owned by institutional investors.

Shares of NYSE M traded up $0.08 during midday trading on Thursday, reaching $19.36. 15,728,828 shares of the company’s stock were exchanged, compared to its average volume of 9,386,896. Macy’s has a 52-week low of $18.86 and a 52-week high of $41.99. The company has a market capitalization of $6.00 billion, a PE ratio of 4.63, a PEG ratio of 0.83 and a beta of 0.55. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32. The stock’s fifty day moving average price is $21.54.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Macy’s will post 3.11 EPS for the current year.

About Macy’s

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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Analyst Recommendations for Macy`s (NYSE:M)

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