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

Investment analysts at StockNews.com began coverage on shares of Macy’s (NYSE:M) in a report released on Tuesday. The firm set a “hold” rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Evercore ISI dropped their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $20.43.

Macy’s Stock Performance

Shares of M stock opened at $15.36 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The stock has a market capitalization of $4.25 billion, a PE ratio of 512.00 and a beta of 2.11. The firm has a 50 day moving average of $15.68 and a two-hundred day moving average of $17.83.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. On average, research analysts predict that Macy’s will post 2.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the 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 transaction, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction 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 transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,665 shares of company stock valued at $842,372. Insiders own 2.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its position in Macy’s by 81.4% in the 4th quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock valued at $61,000 after purchasing an additional 1,355 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Macy’s by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 119,993 shares of the company’s stock valued at $2,414,000 after purchasing an additional 1,170 shares during the last quarter. First Trust Advisors LP lifted its position in Macy’s by 20.0% in the 4th quarter. First Trust Advisors LP now owns 1,996,632 shares of the company’s stock valued at $40,172,000 after purchasing an additional 332,465 shares during the last quarter. Gabelli Funds LLC lifted its position in Macy’s by 5.0% in the 4th quarter. Gabelli Funds LLC now owns 137,500 shares of the company’s stock valued at $2,766,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Macy’s in the 4th quarter valued at about $1,568,000. 87.36% of the stock is currently owned by 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.