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

Equities research analysts at StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also recently issued research reports about the company. 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. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.43.

Macy’s Stock Up 2.9 %

Shares of Macy’s stock opened at $15.69 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a market capitalization of $4.34 billion, a P/E ratio of 522.83 and a beta of 2.11. The company has a 50 day moving average of $15.73 and a 200 day moving average of $17.88.

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 the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. As a group, research analysts forecast that Macy’s will post 2.72 EPS for the current fiscal year.

Insider Buying and Selling at Macy’s

In related news, CEO Antony Spring sold 18,981 shares of the company’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 $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,665 shares of company stock valued at $842,372. 2.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently bought and sold shares of the company. Riverview Trust Co purchased a new position in Macy’s during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC purchased a new position in shares of Macy’s during the 1st quarter worth approximately $42,000. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s during the 1st quarter worth approximately $50,000. EntryPoint Capital LLC purchased a new stake in Macy’s in the 1st quarter valued at approximately $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Macy’s in the 2nd quarter valued at approximately $57,000. 87.36% of the stock is 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.