Macy’s Inc (M) Given New $25.00 Price Target at Deutsche Bank AG
Macy’s Inc (NYSE:M) had its price target raised by equities research analysts at Deutsche Bank AG from $24.00 to $25.00 in a note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s price target points to a potential upside of 6.11% from the company’s previous close.
Other analysts also recently issued research reports about the company. Vetr downgraded Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 target price on the stock. in a research note on Thursday, July 27th. Zacks Investment Research raised Macy’s from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Bank of America Corporation cut their target price on Macy’s from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. Gordon Haskett assumed coverage on Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 target price on the stock. Finally, Wunderlich reaffirmed a “buy” rating and set a $24.00 target price on shares of Macy’s in a research note on Monday, May 15th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.11.
Shares of Macy’s (NYSE M) traded up 1.761% during midday trading on Tuesday, reaching $23.975. The company’s stock had a trading volume of 1,565,779 shares. The firm has a market capitalization of $7.30 billion, a PE ratio of 12.931 and a beta of 0.84. The company’s 50-day moving average price is $22.80 and its 200 day moving average price is $27.21. Macy’s has a 1-year low of $20.85 and a 1-year high of $45.41.
Macy’s (NYSE:M) last issued its earnings results on Thursday, May 11th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by $0.12. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.49 billion. Macy’s had a return on equity of 22.37% and a net margin of 2.26%. Macy’s’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. On average, equities research analysts forecast that Macy’s will post $3.29 earnings per share for the current year.
In other Macy’s news, Director William H. Lenehan purchased 4,390 shares of the stock in a transaction dated Thursday, June 15th. The shares were acquired at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Gennette purchased 13,085 shares of the stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC increased its position in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares in the last quarter. Financial Architects Inc increased its position in shares of Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in shares of Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares in the last quarter. Edge Wealth Management LLC acquired a new position in shares of Macy’s during the second quarter worth $142,000. Finally, Winslow Evans & Crocker Inc. boosted its stake in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the last quarter. Institutional investors and hedge funds own 84.30% of the company’s stock.
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.
Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.