Investors Sell Macy’s Inc. (M) on Strength (M)
Traders 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 recently weighed in on the company. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $35.00 target price (down previously from $37.00) on shares of Macy’s in a research note on Saturday, August 13th. RBC Capital Markets restated a “sector perform” rating and issued a $40.00 target price (up previously from $35.00) on shares of Macy’s in a research note on Saturday, August 13th. Vetr lowered Macy’s from a “hold” rating to a “strong sell” rating and set a $35.17 target price for the company. in a research note on Monday, August 15th. Finally, Goldman Sachs Group Inc. raised their target price on Macy’s from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given a buy rating to the company’s stock. Macy’s currently has a consensus rating of “Hold” and a consensus target price of $44.74.
The stock has a market cap of $12.43 billion and a PE ratio of 16.16. The company’s 50 day moving average is $35.82 and its 200-day moving average is $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 the Zacks’ consensus estimate of $0.45 by $0.09. The company earned $5.87 billion during the quarter, compared to analyst estimates of $5.73 billion. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. On average, equities research analysts forecast that Macy’s Inc. will post $3.36 earnings per share for the current year.
Other institutional investors recently made changes to their positions in the company. I.G. Investment Management LTD. raised 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. BlackRock Advisors LLC raised 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, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 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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