Macy’s (NYSE:M) Stock Rating Reaffirmed by Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $21.00 target price on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 38.48% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen boosted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. StockNews.com began coverage on shares of Macy’s in a research report on Wednesday, August 14th. They set a “hold” rating for the company. Evercore ISI cut their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.80.

Macy’s Trading Down 1.8 %

NYSE:M opened at $15.17 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a market cap of $4.19 billion, a PE ratio of 505.67 and a beta of 2.18. The company has a 50 day simple moving average of $17.45 and a two-hundred day simple moving average of $18.75.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. Research analysts forecast that Macy’s will post 2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the sale, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders have sold a total of 43,464 shares of company stock worth $824,081 in the last 90 days. 2.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Macy’s

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Macy’s by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after buying an additional 1,379,476 shares in the last quarter. LSV Asset Management raised its position in shares of Macy’s by 1.3% during the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after buying an additional 68,300 shares in the last quarter. American Century Companies Inc. grew its holdings in Macy’s by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after purchasing an additional 747,542 shares during the last quarter. Marshall Wace LLP grew its holdings in Macy’s by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after purchasing an additional 3,319,337 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Macy’s by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock valued at $61,162,000 after purchasing an additional 37,254 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other 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.