BMO Capital Markets Reiterates Outperform Rating for Macy’s Inc (M)

Macy’s Inc (NYSE:M)‘s stock had its “outperform” rating reissued by research analysts at BMO Capital Markets in a research note issued on Tuesday.

Several other research analysts have also commented on the company. UBS AG reiterated a “neutral” rating and issued a $21.00 target price (down previously from $23.00) on shares of Macy’s in a research report on Monday. Jefferies Group LLC reiterated a “hold” rating and issued a $21.00 target price (down previously from $24.00) on shares of Macy’s in a research report on Friday, August 11th. Cowen and Company reiterated a “market perform” rating and issued a $23.00 target price (down previously from $26.00) on shares of Macy’s in a research report on Friday, August 11th. Credit Suisse Group decreased their target price on Macy’s from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 11th. Finally, Royal Bank Of Canada set a $23.00 target price on Macy’s and gave the stock a “hold” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $29.74.

Shares of Macy’s (NYSE:M) opened at 20.14 on Tuesday. The stock has a 50 day moving average price of $22.66 and a 200 day moving average price of $26.64. The firm has a market capitalization of $6.13 billion, a P/E ratio of 9.15 and a beta of 0.84. Macy’s has a 12-month low of $20.11 and a 12-month high of $45.41. Macy’s also saw unusually large options trading on Wednesday. Stock investors bought 813 put options on the stock. This represents an increase of approximately 166% compared to the average daily volume of 306 put options.

Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. Equities analysts anticipate that Macy’s will post $3.33 earnings per share for the current fiscal year.

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In other news, Director William H. Lenehan acquired 4,390 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of $22.72 per share, with a total value of $99,740.80. Following the purchase, the director now owns 5,968 shares of the company’s stock, valued at $135,592.96. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Gennette acquired 13,085 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was purchased at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the purchase, the insider now directly owns 89,053 shares in the company, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of M. First Manhattan Co. increased its stake in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares in the last quarter. Heritage Investors Management Corp increased its stake in Macy’s by 0.3% in the first quarter. Heritage Investors Management Corp now owns 19,254 shares of the company’s stock worth $571,000 after buying an additional 50 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Macy’s by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after buying an additional 65 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Macy’s by 0.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,085 shares of the company’s stock worth $773,000 after buying an additional 76 shares in the last quarter. Finally, Cleararc Capital Inc. increased its stake in Macy’s by 1.0% in the first quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock worth $379,000 after buying an additional 123 shares in the last quarter. 84.21% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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