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

StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Wednesday. The brokerage issued a hold rating on the stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Macy’s from $25.00 to $27.00 and gave the stock an overweight rating in a research report on Wednesday, May 22nd. Telsey Advisory Group reiterated a market perform rating and set a $21.00 price target on shares of Macy’s in a report on Tuesday, May 21st. Evercore ISI reduced their price objective on shares of Macy’s from $22.00 to $17.00 and set an in-line rating on the stock in a report on Tuesday, July 16th. Finally, TD Cowen lifted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $18.10.

Macy’s Stock Performance

NYSE M opened at $17.72 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The company has a market cap of $4.90 billion, a P/E ratio of 590.50 and a beta of 2.18. The stock has a 50-day moving average of $17.57 and a two-hundred day moving average of $18.78. Macy’s has a 1-year low of $10.54 and a 1-year high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, analysts anticipate that Macy’s will post 2.79 EPS for the current year.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,464 shares of company stock valued at $824,081. 2.77% of the stock is owned by corporate insiders.

Institutional Trading of Macy’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Macy’s by 4.2% in the second quarter. Creative Planning now owns 62,703 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,554 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Macy’s by 200.3% during the 2nd quarter. Algert Global LLC now owns 230,559 shares of the company’s stock worth $4,427,000 after acquiring an additional 153,789 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Macy’s in the second quarter worth approximately $57,000. Affinity Capital Advisors LLC acquired a new stake in shares of Macy’s in the second quarter worth approximately $209,000. Finally, Alden Global Capital LLC grew its holdings in Macy’s by 56.1% in the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after purchasing an additional 218,146 shares during the period. 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.