Macy’s Inc (NYSE:M)‘s stock had its “buy” rating reaffirmed by research analysts at BMO Capital Markets in a research report issued on Thursday, November 2nd. They currently have a $36.00 target price on the stock. BMO Capital Markets’ target price points to a potential upside of 76.30% from the stock’s previous close.
M has been the subject of several other reports. UBS AG restated a “neutral” rating and issued a $21.00 target price (down from $23.00) on shares of Macy’s in a research note on Monday, August 14th. Jefferies Group LLC reiterated a “hold” rating and set a $21.00 price objective (down from $24.00) on shares of Macy’s in a research note on Friday, August 11th. BidaskClub upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Wedbush reissued a “hold” rating on shares of Macy’s in a report on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Macy’s in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s has an average rating of “Hold” and a consensus price target of $25.37.
Shares of Macy’s (NYSE:M) traded down $0.38 during midday trading on Thursday, hitting $20.42. 10,125,496 shares of the stock traded hands, compared to its average volume of 9,832,472. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19. Macy’s has a 52-week low of $17.41 and a 52-week high of $45.41. The stock has a market cap of $6,220.00, a PE ratio of 6.85, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86.
Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.31 billion. Macy’s had a net margin of 2.83% and a return on equity of 21.20%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. equities analysts forecast that Macy’s will post 3.39 EPS for the current fiscal year.
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In other news, Director John A. Bryant acquired 9,825 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC lifted its holdings in Macy’s by 163.1% in the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock worth $10,487,000 after purchasing an additional 279,720 shares during the period. Douglas Lane & Associates LLC raised its position in Macy’s by 57.8% in the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock worth $48,944,000 after acquiring an additional 821,366 shares in the last quarter. Neuberger Berman Group LLC raised its position in Macy’s by 48.4% in the second quarter. Neuberger Berman Group LLC now owns 928,351 shares of the company’s stock worth $21,575,000 after acquiring an additional 302,628 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Macy’s by 27.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 140,199 shares of the company’s stock worth $3,257,000 after buying an additional 30,500 shares during the period. Finally, Prudential Financial Inc. raised its holdings in Macy’s by 75.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after buying an additional 2,153,110 shares during the period. Institutional investors and hedge funds own 83.82% of the company’s stock.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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