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

Analysts at StockNews.com began coverage on shares of Macy’s (NYSE:M) in a report released on Saturday. The firm set a “hold” rating on the stock.

M has been the subject of a number of other research reports. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Thursday, March 28th. JPMorgan Chase & Co. upped their price objective on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. The Goldman Sachs Group increased their price target on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley cut their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Finally, TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.45.

Macy’s Price Performance

Shares of NYSE:M opened at $19.51 on Friday. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Macy’s has a twelve month low of $10.54 and a twelve month high of $22.10. The stock’s 50 day moving average is $19.56 and its 200-day moving average is $18.30. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 52.73 and a beta of 2.16.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. Sell-side analysts forecast that Macy’s will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the sale, the chief executive officer now directly owns 248,897 shares in the company, valued at approximately $4,885,848.11. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the sale, the chief executive officer now directly owns 248,897 shares in the company, valued at approximately $4,885,848.11. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Danielle L. Kirgan sold 15,070 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the completion of the sale, the executive vice president now owns 306,555 shares in the company, valued at $6,259,853.10. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock worth $4,405,507 in the last ninety days. 2.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Glassman Wealth Services raised its stake in Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares during the last quarter. Lindbrook Capital LLC raised its stake in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Macy’s in the first quarter worth $27,000. Fidelis Capital Partners LLC purchased a new position in shares of Macy’s in the first quarter worth $42,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Macy’s in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.