Traders Sell Macy’s Inc. (M) on Strength (M)
Investors sold shares of Macy’s Inc. (NYSE:M) on strength during trading hours on Friday. $23.71 million flowed into the stock on the tick-up and $42.85 million flowed out of the stock on the tick-down, for a money net flow of $19.14 million out of the stock. Of all equities tracked, Macy’s had the 0th highest net out-flow for the day. Macy’s traded up $0.05 for the day and closed at $40.30
A number of analysts have commented on M shares. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, April 26th. RBC Capital Markets reissued a “sector perform” rating and issued a $40.00 price target (up from $35.00) on shares of Macy’s in a research report on Saturday, August 13th. Vetr lowered shares of Macy’s from a “buy” rating to a “hold” rating and set a $35.17 price target for the company. in a research report on Monday, August 8th. Sterne Agee CRT reissued a “neutral” rating on shares of Macy’s in a research report on Monday, May 16th. Finally, Cowen and Company reissued a “market perform” rating on shares of Macy’s in a research report on Saturday, June 25th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $44.74.
The stock’s 50-day moving average price is $35.82 and its 200 day moving average price is $37.80. The company has a market capitalization of $12.43 billion and a P/E ratio of 16.16.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts anticipate that Macy’s Inc. will post $3.36 EPS for the current year.
Several hedge funds and institutional investors have bought and sold shares of the company. BlackRock Advisors LLC raised its position in 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 last quarter. I.G. Investment Management LTD. raised its position in 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Macy’s by 764.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,300 shares of the company’s stock worth $1,934,000 after buying an additional 48,900 shares during the last quarter.
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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