Macy’s (NYSE:M) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Several other analysts also recently weighed in on the company. Morgan Stanley cut their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Evercore ISI cut their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Macy’s has an average rating of “Hold” and an average price target of $20.43.

Macy’s Trading Down 0.9 %

NYSE:M opened at $15.22 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $15.56 and its two-hundred day moving average is $17.65. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a market cap of $4.21 billion, a PE ratio of 507.33 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. On average, analysts predict that Macy’s will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of M. Russell Investments Group Ltd. boosted its position 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 boosted its position 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 valued at $2,839,000 after purchasing an additional 877 shares during the last quarter. Virtu Financial LLC acquired a new stake in Macy’s during the first quarter valued at $1,043,000. WINTON GROUP Ltd boosted its position in Macy’s by 96.4% during the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its position in Macy’s by 1,122.9% during the first quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock valued at $354,000 after purchasing an additional 16,248 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.