Macy’s Inc (M) Receives Consensus Recommendation of “Hold” from Analysts
Macy’s Inc (NYSE:M) has been given a consensus recommendation of “Hold” by the twenty-six brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $29.88.
M has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $28.00 target price on Macy’s and gave the company a “hold” rating in a report on Saturday, May 13th. Cowen and Company set a $29.00 price target on Macy’s and gave the company a “hold” rating in a research report on Saturday, May 13th. Jefferies Group LLC reiterated a “hold” rating and set a $21.00 price objective (down previously from $24.00) on shares of Macy’s in a research report on Friday. BMO Capital Markets set a $36.00 price objective on Macy’s and gave the stock a “buy” rating in a research report on Friday. Finally, Deutsche Bank AG lifted their price objective on Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th.
In other Macy’s news, insider Jeffrey Gennette bought 13,085 shares of Macy’s stock in a transaction on Monday, June 12th. The shares were purchased at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the acquisition, the insider now owns 89,053 shares in the company, valued at approximately $2,043,766.35. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Lenehan bought 4,390 shares of Macy’s stock in a transaction on 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 disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of M. First Manhattan Co. raised its stake in shares of Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the period. Heritage Investors Management Corp increased its stake in Macy’s by 0.3% in the first quarter. Heritage Investors Management Corp now owns 19,254 shares of the company’s stock worth $571,000 after buying an additional 50 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Macy’s by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after buying an additional 65 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Macy’s by 0.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,085 shares of the company’s stock worth $773,000 after buying an additional 76 shares in the last quarter. Finally, Cleararc Capital Inc. increased its stake in Macy’s by 1.0% in the first quarter. Cleararc Capital Inc. now owns 12,795 shares of the company’s stock worth $379,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.
Shares of Macy’s (NYSE M) opened at 20.62 on Friday. The firm has a market capitalization of $6.28 billion, a PE ratio of 9.37 and a beta of 0.84. The firm’s 50-day moving average is $22.86 and its 200 day moving average is $26.87. Macy’s has a 52 week low of $20.16 and a 52 week high of $45.41.
Macy’s (NYSE:M) last announced its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.69%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that Macy’s will post $3.33 earnings per share for the current year.
Macy’s Company Profile
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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