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

Stock analysts at StockNews.com started coverage on shares of Macy’s (NYSE:MGet Free Report) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

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

Read Our Latest Report on Macy’s

Macy’s Stock Up 2.8 %

NYSE M opened at $19.26 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The business’s fifty day simple moving average is $19.19 and its 200-day simple moving average is $19.14. The firm has a market cap of $5.32 billion, a PE ratio of 636.33 and a beta of 2.16.

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

Insider Activity

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jeffrey Gennette sold 30,090 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the transaction, the director now directly owns 1,073,699 shares of the company’s stock, valued at approximately $21,108,922.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,424 shares of company stock valued at $4,405,507. Insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently bought and sold shares of the company. Glassman Wealth Services raised its position in shares of Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares during the period. Riverview Trust Co acquired a new stake in shares of Macy’s during the first quarter worth $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macy’s in the first quarter valued at $42,000. Finally, Fortitude Family Office LLC acquired a new position in Macy’s in the fourth quarter valued at $50,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Macy's (NYSE:M)

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