Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

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

Other analysts have also issued research reports about the company. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Tuesday, May 21st. JPMorgan Chase & Co. raised their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. TD Cowen upped their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Finally, Evercore ISI lowered their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $18.10.

Macy’s Stock Performance

Shares of M opened at $16.99 on Wednesday. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38. The company’s fifty day moving average is $17.58 and its two-hundred day moving average is $18.79. The stock has a market capitalization of $4.69 billion, a P/E ratio of 566.17 and a beta of 2.18.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. Macy’s’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. On average, sell-side analysts predict that Macy’s will post 2.79 earnings per share for the current year.

Insider Transactions at Macy’s

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the business’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 $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was 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 approximately $6,598,080. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,464 shares of company stock valued at $824,081. Corporate insiders own 2.77% of the company’s stock.

Institutional Trading of Macy’s

Institutional investors and hedge funds have recently made changes to their positions in the stock. Glassman Wealth Services grew its stake in Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Macy’s in the 1st quarter worth about $27,000. Fidelis Capital Partners LLC bought a new stake in Macy’s in the 1st quarter valued at about $42,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Macy’s in the 1st quarter valued at about $50,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.