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

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

Several other equities research analysts also recently commented on the stock. TD Cowen lifted their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Morgan Stanley decreased their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Evercore ISI decreased 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. Finally, Telsey Advisory Group restated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.50.

Macy’s Trading Down 1.7 %

M opened at $14.61 on Friday. Macy’s has a twelve month low of $10.54 and a twelve month high of $22.10. The firm has a market cap of $4.04 billion, a PE ratio of 487.00 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The firm’s fifty day moving average is $16.66 and its two-hundred day moving average is $18.43.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. Macy’s’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Macy’s will post 2.73 EPS for the current year.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 18,981 shares of the company’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 $359,879.76. Following the transaction, 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 available at this link. In related news, EVP Danielle L. Kirgan sold 24,147 shares of Macy’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 transaction, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 18,981 shares of Macy’s 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 completion of the transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold a total of 44,665 shares of company stock valued at $842,372 over the last ninety days. 2.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in M. Atria Wealth Solutions Inc. purchased a new position in shares of Macy’s during the fourth quarter worth $210,000. Private Advisor Group LLC boosted its stake in shares of Macy’s by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock worth $359,000 after buying an additional 603 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Macy’s by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,371,257 shares of the company’s stock worth $47,710,000 after acquiring an additional 13,712 shares during the period. Principal Securities Inc. purchased a new position in Macy’s in the 4th quarter valued at $59,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Macy’s by 34.6% in the fourth quarter. Teacher Retirement System of Texas now owns 60,493 shares of the company’s stock valued at $1,217,000 after acquiring an additional 15,566 shares in the last quarter. 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.