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

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

A number of other brokerages have also recently commented on M. Evercore ISI reduced their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley lowered their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.43.

Macy’s Price Performance

M stock opened at $15.67 on Friday. Macy’s has a 12-month low of $10.59 and a 12-month high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $15.37 and its two-hundred day moving average price is $17.08. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 24.48 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings data 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. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, equities analysts predict that Macy’s will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in M. Quest Partners LLC acquired a new position in shares of Macy’s in the 3rd quarter valued at $35,000. Venturi Wealth Management LLC boosted its position in shares of Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s in the 3rd quarter worth about $39,000. EntryPoint Capital LLC purchased a new stake in shares of Macy’s in the 1st quarter worth about $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Macy’s in the 2nd quarter worth about $57,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.