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 report issued on Thursday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Tuesday, May 21st. The Goldman Sachs Group upped their target price on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Morgan Stanley dropped their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Finally, TD Cowen upped their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.70.

Macy’s Price Performance

Macy’s stock opened at $19.18 on Thursday. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $19.08 and its 200 day simple moving average is $19.29. The firm has a market capitalization of $5.30 billion, a PE ratio of 639.33 and a beta of 2.16.

Macy’s (NYSE:M) last released its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities research analysts predict that Macy’s will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey Gennette sold 30,090 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the sale, the director now owns 1,073,699 shares of the company’s stock, valued at approximately $21,108,922.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Macy’s news, CFO Adrian V. Mitchell sold 13,279 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $260,666.77. Following the completion of the sale, the chief financial officer now owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Gennette sold 30,090 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at approximately $21,108,922.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,430 shares of company stock valued at $1,285,499. 2.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Macy’s

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after buying an additional 2,645,577 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Macy’s by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after buying an additional 1,685,986 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Macy’s by 48.9% during the 3rd quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock valued at $61,211,000 after buying an additional 1,730,307 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Macy’s by 20.8% during the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after buying an additional 565,269 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Macy’s during the 4th quarter valued at approximately $62,529,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.