Macy's (M) Upgraded by ValuEngine to “Buy”
Macy's (NYSE:M) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
A number of other equities research analysts have also weighed in on M. Morgan Stanley raised their price objective on Macy's from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday. Gordon Haskett upgraded Macy's from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday. BMO Capital Markets raised their price objective on Macy's from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Group restated a “hold” rating on shares of Macy's in a research note on Tuesday. Finally, Deutsche Bank raised their price objective on Macy's from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.33.
Shares of Macy's (NYSE:M) traded up $1.16 during trading hours on Thursday, hitting $30.41. The company had a trading volume of 16,193,921 shares, compared to its average volume of 10,550,000. The stock has a market cap of $9,260.00, a P/E ratio of 9.56, a P/E/G ratio of 0.98 and a beta of 0.79. The company has a current ratio of 1.47, a quick ratio of 0.19 and a debt-to-equity ratio of 1.04. Macy's has a 1-year low of $17.41 and a 1-year high of $33.17.
In related news, CFO Karen M. Hoguet sold 67,515 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total value of $1,984,265.85. Following the sale, the chief financial officer now owns 67,515 shares of the company’s stock, valued at approximately $1,984,265.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in Macy's during the 4th quarter valued at $104,000. Delpha Capital Management LLC bought a new stake in Macy's during the 4th quarter valued at $117,000. SeaCrest Wealth Management LLC bought a new stake in Macy's during the 4th quarter valued at $119,000. Cerebellum GP LLC bought a new stake in Macy's during the 4th quarter valued at $127,000. Finally, Enterprise Financial Services Corp raised its stake in Macy's by 102.4% during the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock valued at $135,000 after acquiring an additional 2,706 shares in the last quarter. 88.32% of the stock is currently owned by institutional investors and hedge funds.
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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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