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

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

Several other brokerages also recently weighed in on M. Morgan Stanley decreased their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Evercore ISI cut their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Finally, Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.43.

Macy’s Price Performance

Shares of NYSE:M opened at $15.27 on Friday. Macy’s has a 12 month low of $10.59 and a 12 month high of $22.10. The firm has a market capitalization of $4.24 billion, a P/E ratio of 23.86 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The company’s fifty day moving average price is $15.35 and its 200 day moving average price is $17.20.

Macy’s (NYSE:M) last released its quarterly earnings results 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. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the business posted $0.26 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Macy’s will post 2.72 earnings per share for the current fiscal year.

Institutional Trading of Macy’s

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Macy’s by 44.9% during the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after purchasing an additional 160,093 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Macy’s by 0.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after acquiring an additional 877 shares during the period. Virtu Financial LLC bought a new position in Macy’s in the first quarter worth about $1,043,000. WINTON GROUP Ltd boosted its stake in Macy’s by 96.4% in the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after acquiring an additional 52,337 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Macy’s by 6.4% during the first quarter. US Bancorp DE now owns 21,669 shares of the company’s stock valued at $433,000 after purchasing an additional 1,306 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

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.