StockNews.com Initiates Coverage on Macy’s (NYSE:M)

Equities research analysts at StockNews.com started coverage on shares of Macy’s (NYSE:M) in a report issued on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other research firms also recently issued reports on M. TD Cowen raised their price target 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. Evercore ISI dropped their price objective on shares of 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. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus target price of $18.10.

Macy’s Stock Performance

Shares of M opened at $16.99 on Wednesday. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38. The stock has a market capitalization of $4.69 billion, a PE ratio of 566.17 and a beta of 2.18. The stock has a 50-day simple moving average of $17.58 and a 200-day simple moving average of $18.79.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The firm 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%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, analysts predict that Macy’s will post 2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,464 shares of company stock worth $824,081. Corporate insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently bought and sold shares of the company. Glassman Wealth Services grew its position in Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after acquiring an additional 743 shares during the last quarter. Lindbrook Capital LLC lifted its position 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 period. Riverview Trust Co bought a new position in Macy’s in the first quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new position in shares of Macy’s in the first quarter valued at $42,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Macy’s during the 1st quarter valued at about $50,000. 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.