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

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

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

Macy’s Stock Performance

Shares of NYSE M opened at $15.57 on Friday. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The stock has a market capitalization of $4.30 billion, a PE ratio of 519.00 and a beta of 2.18. The stock has a 50 day moving average price of $17.05 and a 200 day moving average price of $18.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. Analysts predict that Macy’s will post 2.79 earnings per share for the current fiscal year.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 18,981 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 $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 filing with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders sold 43,464 shares of company stock valued at $824,081 in the last three months. Corporate insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently modified their holdings of M. Marshall Wace LLP grew its holdings in shares of Macy’s by 1,539.5% in the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after acquiring an additional 3,319,337 shares in the last quarter. Norges Bank bought a new position in Macy’s during the fourth quarter valued at $62,529,000. Dimensional Fund Advisors LP grew its holdings in Macy’s by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after purchasing an additional 1,685,986 shares during the period. Crestline Management LP bought a new position in Macy’s during the fourth quarter valued at $32,192,000. Finally, Invenomic Capital Management LP bought a new position in Macy’s during the fourth quarter valued at $19,372,000. 87.36% of the stock is owned by 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.