StockNews.com Initiates Coverage on Macy’s (NYSE:M)

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

Several other research analysts have also issued reports on the company. The Goldman Sachs Group raised their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley lowered their price objective on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $18.00 in a research report on Friday, February 2nd. JPMorgan Chase & Co. lifted their price objective on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Macy’s has an average rating of “Hold” and a consensus target price of $17.45.

Macy’s Trading Up 1.4 %

Shares of M stock opened at $19.02 on Wednesday. The stock’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $17.41. The company has a market cap of $5.23 billion, a PE ratio of 51.41 and a beta of 2.15. Macy’s has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. Equities analysts predict that Macy’s will post 2.57 EPS for the current fiscal year.

Insider Activity at Macy’s

In other news, CEO Antony Spring sold 13,404 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $273,709.68. Following the completion of the sale, the chief executive officer now owns 223,286 shares in the company, valued at approximately $4,559,500.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Antony Spring sold 13,404 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $273,709.68. Following the transaction, the chief executive officer now directly owns 223,286 shares of the company’s stock, valued at approximately $4,559,500.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Gennette sold 78,567 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the transaction, the director now directly owns 994,301 shares in the company, valued at $20,303,626.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,424 shares of company stock worth $4,405,507. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently modified their holdings of the business. Glassman Wealth Services boosted its position in shares of Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the period. Lindbrook Capital LLC boosted its position in shares of Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Riverview Trust Co bought a new stake in Macy’s during the first quarter worth approximately $27,000. Fifth Third Bancorp raised its holdings in Macy’s by 221.4% during the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock worth $41,000 after purchasing an additional 2,415 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Macy’s during the fourth quarter worth approximately $50,000. 87.36% of the stock is owned by hedge funds and other 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.