Macy’s (NYSE:M) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the stock.

Other equities analysts also recently issued research reports about the company. TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Thursday, March 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Morgan Stanley decreased their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.45.

Macy’s Stock Performance

NYSE M opened at $18.90 on Tuesday. The company has a market cap of $5.18 billion, a PE ratio of 51.08 and a beta of 2.15. The stock’s 50 day simple moving average is $19.70 and its 200-day simple moving average is $17.09. 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 current ratio of 1.37 and a quick ratio of 0.39.

Macy’s (NYSE:M) last released its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. As a group, equities research analysts anticipate that Macy’s will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the sale, the chief financial officer now owns 99,098 shares in the company, valued at approximately $2,023,581.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Adrian V. Mitchell sold 13,249 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the transaction, the chief financial officer now owns 99,098 shares in the company, valued at approximately $2,023,581.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Antony Spring sold 13,404 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the transaction, the chief executive officer now owns 223,286 shares in the company, valued at approximately $4,559,500.12. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock worth $4,405,507 in the last quarter. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in M. Glassman Wealth Services lifted its position 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 acquiring an additional 743 shares during the period. Lindbrook Capital LLC lifted its position in Macy’s by 253.1% during the 4th 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 period. FinTrust Capital Advisors LLC acquired a new stake in Macy’s during the 4th quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in Macy’s during the 1st quarter worth approximately $27,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Macy’s during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.