Several other research analysts have also recently issued reports on the company. Vetr raised Macy’s from a buy rating to a strong-buy rating and set a $30.62 target price on the stock in a research report on Thursday, May 11th. Wunderlich reissued a buy rating and issued a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Zacks Investment Research raised Macy’s from a sell rating to a hold rating in a research report on Tuesday, May 9th. Telsey Advisory Group dropped their target price on Macy’s from $36.00 to $30.00 and set an outperform rating on the stock in a research report on Friday, May 12th. Finally, BidaskClub raised Macy’s from a sell rating to a hold rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Macy’s has a consensus rating of Hold and an average price target of $30.84.
Macy’s (NYSE M) traded down 0.24% during trading on Tuesday, reaching $20.62. 12,503,939 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $22.86 and a 200-day moving average of $26.87. Macy’s has a 12 month low of $20.16 and a 12 month high of $45.41. The stock has a market cap of $6.28 billion, a PE ratio of 9.37 and a beta of 0.84. Macy’s also saw some unusual options trading on Wednesday. Stock traders bought 33,975 call options on the stock. This is an increase of 489% compared to the typical daily volume of 5,766 call 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 consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.69% and a net margin of 2.71%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the firm posted $0.51 earnings per share. Macy’s’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Macy’s will post $3.33 earnings per share for the current fiscal year.
In other Macy’s news, insider Jeffrey Gennette acquired 13,085 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Lenehan acquired 4,390 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average price of $22.72 per share, with a total value of $99,740.80. Following the acquisition, the director now owns 5,968 shares in the company, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of M. Ally Financial Inc. boosted its position in Macy’s by 100.0% in the second quarter. Ally Financial Inc. now owns 150,000 shares of the company’s stock worth $3,486,000 after buying an additional 75,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Macy’s by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock worth $123,703,000 after buying an additional 1,117,903 shares during the last quarter. Virtu KCG Holdings LLC boosted its position in Macy’s by 62.9% in the second quarter. Virtu KCG Holdings LLC now owns 52,937 shares of the company’s stock worth $1,230,000 after buying an additional 20,442 shares during the last quarter. Hancock Holding Co. raised its stake in shares of Macy’s by 190.1% in the second quarter. Hancock Holding Co. now owns 61,502 shares of the company’s stock worth $1,430,000 after buying an additional 40,302 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Macy’s by 71.7% in the second quarter. Parametric Portfolio Associates LLC now owns 1,424,169 shares of the company’s stock worth $33,098,000 after buying an additional 594,940 shares during the period. Institutional investors own 84.30% 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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