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

Stock analysts at StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report released on Friday. The firm set a “hold” rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen cut shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Telsey Advisory Group reaffirmed 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 increased their target price for the company from $14.00 to $18.00 in a research note on Friday, February 2nd. The Goldman Sachs Group boosted their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.45.

Macy’s Stock Up 2.0 %

NYSE M opened at $19.45 on Friday. The stock has a market capitalization of $5.35 billion, a P/E ratio of 52.57 and a beta of 2.16. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. The stock has a fifty day moving average of $19.62 and a 200-day moving average of $17.97.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same period last year, the company earned $1.88 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Macy’s will post 2.57 EPS for the current year.

Insider Transactions at Macy’s

In other news, 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 in the company, valued at $437,937.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the sale, the chief financial officer now directly owns 99,098 shares of the company’s stock, valued at approximately $2,023,581.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul Griscom sold 2,969 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now 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 quarter. Corporate insiders own 2.77% of the company’s stock.

Institutional Trading of Macy’s

Several institutional investors and hedge funds have recently bought and sold shares of M. Vanguard Group Inc. lifted its stake in Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after acquiring an additional 2,645,577 shares during the last quarter. Deutsche Bank AG grew its holdings in Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after purchasing an additional 1,841,432 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Macy’s by 15.7% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 544,534 shares of the company’s stock worth $6,322,000 after buying an additional 73,924 shares during the last quarter. American Century Companies Inc. raised its stake in Macy’s by 20.8% in the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after buying an additional 565,269 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $6,021,000. Institutional investors own 87.36% of the company’s stock.

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.