Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

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

Several other analysts have also commented on M. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Tuesday, May 21st. TD Cowen raised their target price on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their price target on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Morgan Stanley cut their price objective on 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. Finally, The Goldman Sachs Group lifted their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Macy’s presently has a consensus rating of “Hold” and a consensus target price of $17.70.

Macy’s Stock Down 2.1 %

Shares of NYSE:M opened at $19.06 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The company has a market cap of $5.27 billion, a PE ratio of 635.33 and a beta of 2.16. The stock’s 50-day moving average is $19.08 and its 200 day moving average is $19.30. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. Macy’s’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Sell-side analysts anticipate that Macy’s will post 2.79 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Adrian V. Mitchell sold 13,279 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the transaction, the chief financial officer now owns 120,457 shares of the company’s stock, valued at approximately $2,364,570.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the sale, the chief executive officer now owns 248,897 shares in the company, valued at approximately $4,885,848.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adrian V. Mitchell sold 13,279 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $260,666.77. Following the sale, the chief financial officer now directly owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The disclosure for this sale can be found here. Insiders sold a total of 65,430 shares of company stock valued at $1,285,499 over the last 90 days. 2.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Glassman Wealth Services grew its stake in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after acquiring an additional 743 shares during the period. Lindbrook Capital LLC increased its stake in shares of Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after acquiring an additional 944 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Macy’s during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC purchased a new position in shares of Macy’s during the 1st quarter worth about $42,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Macy’s in the fourth quarter worth approximately $50,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.