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 note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

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

Macy’s Price Performance

Macy’s stock opened at $18.23 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. Macy’s has a 52-week low of $10.54 and a 52-week high of $22.10. The firm has a market cap of $5.04 billion, a PE ratio of 607.67 and a beta of 2.16. The company’s 50 day moving average is $19.18 and its two-hundred day moving average is $19.24.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business earned $0.56 EPS. The company’s revenue was down 2.7% on a year-over-year basis. On average, research analysts expect that Macy’s will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of Macy’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the completion of the sale, the executive vice president now owns 306,555 shares in the company, valued at approximately $6,259,853.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Macy’s news, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $20,303,626.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Danielle L. Kirgan sold 15,070 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the completion of the sale, the executive vice president now directly owns 306,555 shares of the company’s stock, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock valued at $4,405,507 in the last quarter. 2.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Macy’s

Several hedge funds and other institutional investors have recently bought and sold shares of M. Norges Bank purchased a new position in Macy’s in the fourth quarter valued at about $62,529,000. Vanguard Group Inc. grew 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 worth $422,390,000 after purchasing an additional 2,645,577 shares in the last quarter. Deutsche Bank AG increased its holdings in Macy’s by 260.8% in the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after buying an additional 1,841,432 shares during the last quarter. AQR Capital Management LLC raised its stake in Macy’s by 48.9% during the third quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock valued at $61,211,000 after buying an additional 1,730,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Macy’s by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after buying an additional 1,685,986 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.