A number of other analysts also recently commented on the stock. Vetr upgraded shares of Macy’s from a buy rating to a strong-buy rating and set a $30.62 price objective for the company in a report on Thursday, May 11th. Wunderlich reiterated a buy rating and issued a $24.00 price objective on shares of Macy’s in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Macy’s from a sell rating to a hold rating in a report on Tuesday, May 9th. Telsey Advisory Group cut their price target on shares of Macy’s from $36.00 to $30.00 and set an outperform rating for the company in a report on Friday, May 12th. Finally, BidaskClub upgraded shares of Macy’s from a sell rating to a hold rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $29.74.
Shares of Macy’s (M) traded down 0.66% during mid-day trading on Monday, hitting $19.49. The company’s stock had a trading volume of 10,487,634 shares. The stock’s 50 day moving average price is $22.46 and its 200 day moving average price is $26.52. Macy’s has a 52-week low of $19.35 and a 52-week high of $45.41. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 8.86 and a beta of 0.84. Macy’s also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 813 put options on the stock. This represents an increase of approximately 166% compared to the typical volume of 306 put options.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. Macy’s’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Equities analysts forecast that Macy’s will post $3.38 EPS for the current year.
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In other Macy’s news, Director William H. Lenehan acquired 4,390 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the purchase, the director now owns 5,968 shares in the company, valued at approximately $135,592.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Gennette acquired 13,085 shares of the company’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the purchase, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Washington Trust Bank increased its stake in Macy’s by 363.8% in the first quarter. Washington Trust Bank now owns 13,669 shares of the company’s stock worth $405,000 after buying an additional 10,722 shares in the last quarter. Americafirst Capital Management LLC increased its stake in Macy’s by 169.9% in the first quarter. Americafirst Capital Management LLC now owns 9,558 shares of the company’s stock worth $283,000 after buying an additional 6,017 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. Winslow Evans & Crocker Inc. increased its stake in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares in the last quarter. Finally, Highland Capital Management LLC increased its stake in Macy’s by 14.4% in the first quarter. Highland Capital Management LLC now owns 232,146 shares of the company’s stock worth $6,881,000 after buying an additional 29,174 shares in the last quarter. 84.21% of the stock is currently owned by hedge funds and other 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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