Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

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

A number of other equities analysts also recently commented on M. Morgan Stanley decreased their target price 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. Evercore ISI lowered 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. raised their target price 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 upped 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.50.

Macy’s Stock Performance

M stock opened at $15.00 on Friday. The stock’s 50 day simple moving average is $16.29 and its 200 day simple moving average is $18.27. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a market cap of $4.16 billion, a P/E ratio of 500.00 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Macy’s will post 2.72 EPS for the current year.

Insider Transactions at Macy’s

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the transaction, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 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 transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. In the last three months, insiders sold 44,665 shares of company stock valued at $842,372. Company insiders own 2.77% of the company’s stock.

Institutional Investors Weigh In On Macy’s

Large investors have recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of Macy’s by 7.7% in the second quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares during the period. Private Advisor Group LLC grew its position in Macy’s by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock worth $359,000 after purchasing an additional 603 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Macy’s by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after purchasing an additional 761 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Macy’s by 13.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock valued at $139,000 after purchasing an additional 800 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Macy’s by 6.1% in the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after buying an additional 833 shares during the period. 87.36% of the stock is owned by institutional investors.

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.