Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. TD Cowen lifted their target price on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Evercore ISI reduced their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Macy’s presently has an average rating of “Hold” and a consensus target price of $18.10.

Macy’s Stock Down 1.9 %

Shares of M opened at $15.22 on Tuesday. The firm has a market cap of $4.21 billion, a PE ratio of 507.33 and a beta of 2.18. The company’s fifty day moving average is $17.91 and its two-hundred day moving average is $18.89. Macy’s has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

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

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were 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 of the company’s stock, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 approximately $5,067,344.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Insiders sold 43,464 shares of company stock valued at $824,081 in the last ninety days. Company insiders own 2.77% of the company’s stock.

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in shares of Macy’s by 44.9% in the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after purchasing an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Macy’s in the 1st quarter worth approximately $1,043,000. Invenomic Capital Management LP bought a new stake in shares of Macy’s in the 4th quarter worth approximately $19,372,000. Finally, Atlas Capital Advisors LLC raised its holdings in shares of Macy’s by 1,122.9% in the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock worth $354,000 after purchasing an additional 16,248 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

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.