Macy’s Inc. (NYSE:M) rose 2.3% during trading on Wednesday . The stock traded as high as $34.79 and last traded at $34.55, with a volume of 4,511,188 shares. The stock had previously closed at $33.78.

Several research analysts have recently issued reports on the stock. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $44.66 target price on the stock. in a research note on Tuesday, April 19th. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, April 26th. Royal Bank Of Canada assumed coverage on shares of Macy’s in a research note on Tuesday, May 3rd. They issued a “sector perform” rating and a $42.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating on shares of Macy’s in a research note on Wednesday, May 11th. Finally, Morgan Stanley dropped their target price on shares of Macy’s from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 12th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $43.73.

The company’s 50-day moving average is $34.30 and its 200-day moving average is $37.81. The firm has a market capitalization of $10.49 billion and a price-to-earnings ratio of 11.11.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, May 11th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. The company earned $5.77 billion during the quarter, compared to analyst estimates of $5.97 billion. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. Equities research analysts forecast that Macy’s Inc. will post $3.26 EPS for the current fiscal year.

Other hedge funds have modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Macy’s by 3.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 43,669 shares of the company’s stock worth $1,528,000 after buying an additional 1,505 shares during the period. Westbourne Investment Advisors Inc. raised its stake in shares of Macy’s by 39.5% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 38,992 shares of the company’s stock worth $1,364,000 after buying an additional 11,035 shares during the period. Andra AP fonden raised its stake in shares of Macy’s by 47.6% in the fourth quarter. Andra AP fonden now owns 96,100 shares of the company’s stock worth $3,362,000 after buying an additional 31,000 shares during the period. Trexquant Investment LP raised its stake in shares of Macy’s by 660.6% in the fourth quarter. Trexquant Investment LP now owns 96,600 shares of the company’s stock worth $3,379,000 after buying an additional 83,900 shares during the period. Finally, BlackRock Advisors LLC raised its stake in shares of Macy’s by 4.0% in the fourth quarter. BlackRock Advisors LLC now owns 2,318,377 shares of the company’s stock worth $81,097,000 after buying an additional 88,510 shares during the period.

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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