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

Research analysts at StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Citigroup upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley lowered their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.45.

Macy’s Stock Performance

Shares of NYSE M opened at $19.02 on Wednesday. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a 50-day simple moving average of $19.68 and a 200-day simple moving average of $17.41. The company has a market cap of $5.23 billion, a PE ratio of 51.41 and a beta of 2.15. 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 quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that Macy’s will post 2.57 earnings per share for the current year.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the completion of the transaction, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the completion of the transaction, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at $437,937.48. The disclosure for this sale can be found here. Insiders sold 218,424 shares of company stock valued at $4,405,507 over the last ninety days. 1.52% of the stock is owned by insiders.

Institutional Trading of Macy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glassman Wealth Services increased its stake in shares of Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after acquiring an additional 743 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after acquiring an additional 944 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Macy’s in the 1st quarter valued at about $27,000. Fortitude Family Office LLC acquired a new position in shares of Macy’s in the 4th quarter valued at approximately $50,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s in the 1st quarter valued at approximately $50,000. 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.