Traders Sell Macy’s Inc. (M) on Strength (M)
Traders sold shares of Macy’s Inc. (NYSE:M) on strength during trading on Friday. $102.23 million flowed into the stock on the tick-up and $125.41 million flowed out of the stock on the tick-down, for a money net flow of $23.18 million out of the stock. Of all companies tracked, Macy’s had the 14th highest net out-flow for the day. Macy’s traded up $0.01 for the day and closed at $39.82
Several research analysts recently issued reports on M shares. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, April 26th. Vetr lowered Macy’s from a “buy” rating to a “hold” rating and set a $35.17 target price for the company. in a report on Monday. Sterne Agee CRT restated a “neutral” rating on shares of Macy’s in a report on Monday, May 16th. Cowen and Company restated a “market perform” rating on shares of Macy’s in a report on Saturday, June 25th. Finally, Telsey Advisory Group upped their target price on Macy’s from $36.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.73.
The stock has a market cap of $12.28 billion and a P/E ratio of 13.01. The stock 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 results on Thursday, August 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. During the same period last year, the firm earned $0.64 earnings per share. The company earned $5.87 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Macy’s’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Macy’s Inc. will post $3.30 earnings per share for the current year.
Other large investors have made changes to their positions in the company. Bridgewater Associates LP boosted its stake in shares of Macy’s by 310.3% in the fourth quarter. Bridgewater Associates LP now owns 771,186 shares of the company’s stock worth $26,976,000 after buying an additional 583,215 shares during the last quarter. BlackRock Advisors LLC boosted 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 last quarter. Gluskin Sheff & Assoc Inc. boosted its stake in shares of Macy’s by 1,844.3% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 296,626 shares of the company’s stock worth $10,376,000 after buying an additional 281,370 shares during the last quarter. I.G. Investment Management LTD. boosted its stake 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 last quarter. Finally, Westbourne Investment Advisors Inc. boosted 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 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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