StockNews.com Begins Coverage on Macy’s (NYSE:M)

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

Other analysts also recently issued reports about the stock. Morgan Stanley dropped their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Evercore ISI dropped their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.43.

Macy’s Trading Down 0.5 %

Shares of NYSE:M opened at $15.27 on Friday. The company has a 50 day moving average of $15.35 and a 200-day moving average of $17.19. The firm has a market cap of $4.24 billion, a P/E ratio of 23.86 and a beta of 2.11. Macy’s has a twelve month low of $10.59 and a twelve month high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last issued its quarterly 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 company 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%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. As a group, analysts anticipate that Macy’s will post 2.72 earnings per share for the current fiscal year.

Institutional Trading of Macy’s

Large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in shares of Macy’s by 7.7% during the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Macy’s by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after buying an additional 761 shares during the period. Wedmont Private Capital boosted its holdings in shares of Macy’s by 6.1% during the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after buying an additional 833 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Macy’s by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after buying an additional 877 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Macy’s by 9.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock worth $236,000 after buying an additional 1,000 shares during the period. 87.36% of the stock is owned by institutional investors.

Macy’s Company Profile

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.