Macy’s Inc (NYSE:M) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday, September 1st.
M has been the topic of several other research reports. BidaskClub cut Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a research report on Thursday, July 27th. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Macy’s in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada set a $23.00 price target on Macy’s and gave the company a “hold” rating in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Macy’s currently has a consensus rating of “Hold” and an average price target of $27.63.
Macy’s (NYSE:M) opened at 22.58 on Friday. The company’s 50 day moving average price is $21.64 and its 200-day moving average price is $25.07. Macy’s has a one year low of $19.32 and a one year high of $45.41. The company has a market cap of $6.88 billion, a P/E ratio of 10.26 and a beta of 0.83.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping 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 return on equity of 21.38% and a net margin of 2.71%. Macy’s’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. On average, analysts forecast that Macy’s will post $3.38 EPS for the current fiscal year.
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In related news, Director John A. Bryant acquired 9,825 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares of the company’s stock, valued at $199,644. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. bought a new stake in Macy’s during the second quarter worth approximately $335,000. Penserra Capital Management LLC boosted its holdings in Macy’s by 9.5% during the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares in the last quarter. Ropes Wealth Advisors LLC boosted its holdings in Macy’s by 63.5% during the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares in the last quarter. Ffcm LLC boosted its holdings in Macy’s by 251.6% during the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares in the last quarter. Finally, First Manhattan Co. boosted its holdings in Macy’s by 0.6% during 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. Hedge funds and other institutional investors own 81.71% of the company’s stock.
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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