Macy’s (NYSE:M) Raised to “Hold” at Barclays

Macy’s (NYSE:M) was upgraded by analysts at Barclays to a “hold” rating in a report released on Monday, MarketBeat reports. The brokerage presently has a $12.00 price objective on the stock. Barclays‘s price target points to a potential upside of 4.99% from the stock’s previous close.

M has been the subject of a number of other research reports. Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price objective on shares of Macy’s in a research note on Wednesday, April 2nd. Citigroup decreased their price objective on shares of Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. UBS Group decreased their price objective on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 7th. Finally, Gordon Haskett downgraded shares of Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.18.

Macy’s Trading Down 1.4 %

Shares of Macy’s stock opened at $11.43 on Monday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 19.37 and a beta of 1.73. The business has a 50-day moving average price of $12.62 and a 200-day moving average price of $14.63. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s has a twelve month low of $9.76 and a twelve month high of $20.70.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Equities research analysts anticipate that Macy’s will post 2.39 EPS for the current fiscal year.

Insider Transactions at Macy’s

In related news, EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company’s stock, valued at $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares in the company, valued at approximately $4,073,373.92. The trade was a 6.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Macy’s

A number of institutional investors have recently added to or reduced their stakes in the stock. Impax Asset Management Group plc boosted its position in Macy’s by 3.6% during the first quarter. Impax Asset Management Group plc now owns 86,074 shares of the company’s stock valued at $1,081,000 after purchasing an additional 2,962 shares in the last quarter. Principal Financial Group Inc. raised its stake in Macy’s by 0.4% in the first quarter. Principal Financial Group Inc. now owns 638,586 shares of the company’s stock valued at $8,021,000 after buying an additional 2,858 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Macy’s by 157.1% in the first quarter. Teacher Retirement System of Texas now owns 44,645 shares of the company’s stock valued at $561,000 after buying an additional 27,281 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Macy’s in the first quarter valued at about $304,000. Finally, Waterfront Wealth Inc. raised its stake in Macy’s by 3.4% in the first quarter. Waterfront Wealth Inc. now owns 196,227 shares of the company’s stock valued at $2,465,000 after buying an additional 6,396 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.