Traders sold shares of Macy’s Inc. (NYSE:M) on strength during trading hours on Thursday. $339.22 million flowed into the stock on the tick-up and $360.04 million flowed out of the stock on the tick-down, for a money net flow of $20.82 million out of the stock. Of all stocks tracked, Macy’s had the 0th highest net out-flow for the day. Macy’s traded up $5.81 for the day and closed at $39.81

A number of brokerages recently issued reports on M. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $44.66 target price for the company. in a research report on Tuesday, April 19th. Zacks Investment Research cut Macy’s from a “buy” rating to a “sell” rating in a research report on Wednesday, April 27th. Citigroup Inc. increased their price objective on Macy’s from $30.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday. Goldman Sachs Group Inc. increased their price objective on Macy’s from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank Of Canada increased their price objective on Macy’s from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $44.73.

The stock has a market capitalization of $12.28 billion and a P/E ratio of 15.97. The firm has a 50 day moving average of $34.71 and a 200-day moving average of $37.80.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The firm earned $5.87 billion during the quarter, compared to the consensus estimate of $5.73 billion. The business’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, equities research analysts forecast that Macy’s Inc. will post $3.30 EPS for the current year.

Several hedge funds and institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position 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. increased its position 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. Trexquant Investment LP increased its position 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. BlackRock Advisors LLC increased its position 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. Finally, I.G. Investment Management LTD. increased its position in shares of Macy’s by 47.1% in the fourth quarter. I.G. Investment Management LTD. now owns 389,035 shares of the company’s stock worth $13,608,000 after buying an additional 124,619 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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