Macy’s (NYSE:M) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Macy’s (NYSE:MGet Free Report) in a report issued on Tuesday. The firm set a “hold” rating on the stock.

A number of other equities research analysts also recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Tuesday, May 21st. The Goldman Sachs Group increased their target price on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. TD Cowen boosted their price target 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 lowered their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $17.70.

View Our Latest Stock Report on M

Macy’s Price Performance

Shares of Macy’s stock opened at $18.65 on Tuesday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 621.67 and a beta of 2.16. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $19.21 and its 200-day simple moving average is $19.09. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10.

Macy’s (NYSE:MGet Free Report) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts expect that Macy’s will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey Gennette sold 78,567 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $1,604,338.14. Following the sale, the director now directly owns 994,301 shares in the company, valued at $20,303,626.42. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the completion of the sale, the director now directly owns 994,301 shares of the company’s stock, valued at $20,303,626.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock valued at $4,405,507 in the last ninety days. 2.77% of the stock is owned by company insiders.

Institutional Trading of Macy’s

A number of large investors have recently modified their holdings of M. SummerHaven Investment Management LLC raised its holdings in shares of Macy’s by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock valued at $866,000 after acquiring an additional 554 shares in the last quarter. Private Advisor Group LLC increased its position in Macy’s by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock valued at $359,000 after purchasing an additional 603 shares during the period. Glassman Wealth Services increased 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 valued at $25,000 after purchasing an additional 743 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Macy’s by 13.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock valued at $139,000 after purchasing an additional 800 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Macy’s by 0.6% in the 4th quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after purchasing an additional 841 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Macy's (NYSE:M)

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