Macy’s (NYSE:M) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report issued on Monday. The firm set a “hold” rating on the stock.

A number of other equities research analysts have also weighed in on M. Morgan Stanley lowered their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Finally, Evercore ISI reduced their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and a consensus price target of $19.50.

Macy’s Price Performance

M stock opened at $15.07 on Monday. The stock’s fifty day simple moving average is $15.83 and its 200-day simple moving average is $18.04. Macy’s has a 52-week low of $10.54 and a 52-week high of $22.10. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 502.33 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. Equities research analysts expect that Macy’s will post 2.72 EPS for the current year.

Insider Activity

In related news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders sold a total of 44,665 shares of company stock worth $842,372 in the last three months. 2.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in Macy’s in the first quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new position in Macy’s during the first quarter worth approximately $42,000. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s during the 1st quarter worth approximately $50,000. EntryPoint Capital LLC bought a new position in shares of Macy’s in the first quarter valued at about $51,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the second quarter worth approximately $57,000. 87.36% of the stock is owned by institutional investors.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.