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

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

A number of other research firms have also weighed in on M. Evercore ISI reduced their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. TD Cowen lifted their price objective on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Morgan Stanley reduced their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, 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 Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Macy’s Stock Performance

Shares of M opened at $15.58 on Friday. The stock has a 50-day moving average of $17.10 and a two-hundred day moving average of $18.61. Macy’s has a one year low of $10.54 and a one 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 cap of $4.31 billion, a P/E ratio of 519.17 and a beta of 2.18.

Macy’s (NYSE:M) last issued its quarterly 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. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. As a group, research analysts predict that Macy’s will post 2.79 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the business’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 transaction of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the business’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 transaction of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The disclosure for this sale can be found here. In the last three months, 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 large investors have recently made changes to their positions in M. Riverview Trust Co purchased a new position in Macy’s during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new position in shares of Macy’s during the first quarter worth about $42,000. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s during the first quarter worth about $50,000. EntryPoint Capital LLC acquired a new position in shares of Macy’s during the first quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Macy’s by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 2,600 shares of the company’s stock worth $52,000 after buying an additional 2,000 shares in the last quarter. 87.36% of the stock is currently 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.