Other equities analysts have also recently issued reports about the stock. Credit Suisse Group lifted their target price on shares of Macy’s to $19.00 in a report on Monday. Citigroup lifted their target price on shares of Macy’s from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 18th. Jefferies Financial Group dropped their price objective on shares of Macy’s from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, September 15th. OTR Global raised shares of Macy’s from a “mixed” rating to a “positive” rating in a research note on Wednesday, November 9th. Finally, Evercore ISI dropped their price objective on shares of Macy’s from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Macy’s presently has an average rating of “Hold” and an average target price of $25.18.
Macy’s Stock Down 0.8 %
Shares of Macy’s stock opened at $23.42 on Wednesday. The company has a market capitalization of $6.35 billion, a P/E ratio of 4.88, a P/E/G ratio of 0.47 and a beta of 1.74. The company has a quick ratio of 0.14, a current ratio of 1.09 and a debt-to-equity ratio of 0.86. Macy’s has a 52-week low of $15.10 and a 52-week high of $32.70. The company has a 50 day moving average of $18.95 and a 200 day moving average of $19.21.
Insider Buying and Selling
In related news, SVP Paul Griscom sold 2,868 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $17.43, for a total value of $49,989.24. Following the sale, the senior vice president now directly owns 4,688 shares in the company, valued at approximately $81,711.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.58% of the company’s stock.
Institutional Investors Weigh In On Macy’s
Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in Macy’s by 224.5% in the 2nd quarter. Renaissance Technologies LLC now owns 12,320,464 shares of the company’s stock valued at $225,711,000 after purchasing an additional 8,523,700 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Macy’s by 137.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,085,398 shares of the company’s stock valued at $79,688,000 after purchasing an additional 2,943,484 shares in the last quarter. Natixis lifted its holdings in Macy’s by 369.4% in the 2nd quarter. Natixis now owns 2,751,766 shares of the company’s stock valued at $50,614,000 after purchasing an additional 2,165,543 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock valued at $246,184,000 after acquiring an additional 2,155,936 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Macy’s by 25.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,904,227 shares of the company’s stock valued at $155,205,000 after acquiring an additional 2,040,551 shares during the last quarter. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.
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