Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report issued on Monday. The firm set a “hold” rating on the stock.

A number of other brokerages have also issued reports on M. Morgan Stanley lowered their target price on shares of 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. Evercore ISI cut 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 research report on Tuesday, July 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average target price of $19.50.

Macy’s Stock Performance

M opened at $15.07 on Monday. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The company’s 50 day moving average is $15.83 and its 200 day moving average is $18.04. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 502.33 and a beta of 2.11.

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 analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, equities research analysts predict that Macy’s will post 2.72 EPS for the current year.

Insider Buying and Selling at Macy’s

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated 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 $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Danielle L. Kirgan sold 24,147 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 $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 $6,598,080. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold 44,665 shares of company stock worth $842,372 over the last three months. Insiders own 2.77% of the company’s stock.

Institutional Trading of Macy’s

Several large investors have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new position in Macy’s in the 1st quarter worth $27,000. Fidelis Capital Partners LLC bought a new position in Macy’s during the 1st quarter valued at $42,000. Future Financial Wealth Managment LLC acquired a new position in Macy’s during the 1st quarter worth $50,000. EntryPoint Capital LLC bought a new stake in Macy’s in the first quarter valued at about $51,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the second quarter valued at approximately $57,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.