Macy’s Inc (NYSE:M) hit a new 52-week low during trading on Wednesday . The stock traded as low as $20.14 and last traded at $20.14, with a volume of 8,758,242 shares. The stock had previously closed at $20.29.

Several research analysts have issued reports on M shares. Vetr lowered shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price target on the stock. in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BMO Capital Markets restated an “outperform” rating on shares of Macy’s in a research report on Tuesday. Royal Bank Of Canada set a $23.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Deutsche Bank AG lifted their price target on shares of Macy’s from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.74.

The firm’s 50 day moving average price is $22.75 and its 200-day moving average price is $26.69. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 9.15 and a beta of 0.84.

Macy’s (NYSE:M) last released its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm 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 earned $0.51 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts expect that Macy’s Inc will post $3.33 EPS for the current year.

In related news, insider Jeffrey Gennette purchased 13,085 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $22.95 per share, with a total value of $300,300.75. Following the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at approximately $2,043,766.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Lenehan purchased 4,390 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now directly owns 5,968 shares in the company, valued at approximately $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. TB Alternative Assets Ltd. acquired a new stake in Macy’s during the first quarter valued at approximately $5,421,000. Washington Trust Bank increased its position in shares of Macy’s by 363.8% in the first quarter. Washington Trust Bank now owns 13,669 shares of the company’s stock worth $405,000 after buying an additional 10,722 shares during the period. Cadence Capital Management LLC increased its position in shares of Macy’s by 43.4% in the first quarter. Cadence Capital Management LLC now owns 56,820 shares of the company’s stock worth $1,684,000 after buying an additional 17,186 shares during the period. Banco Santander S.A. increased its position in shares of Macy’s by 71.4% in the first quarter. Banco Santander S.A. now owns 60,000 shares of the company’s stock worth $1,556,000 after buying an additional 25,000 shares during the period. Finally, OppenheimerFunds Inc. increased its position in shares of Macy’s by 114.2% in the first quarter. OppenheimerFunds Inc. now owns 2,068,938 shares of the company’s stock worth $61,324,000 after buying an additional 1,102,887 shares during the period. Institutional investors and hedge funds own 84.21% of the company’s stock.

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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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