Macy’s’ (M) Outperform Rating Reaffirmed at BMO Capital Markets
Macy’s Inc (NYSE:M)‘s stock had its “outperform” rating reiterated by stock analysts at BMO Capital Markets in a research note issued to investors on Tuesday.
Other equities analysts have also issued reports about the company. Vetr lowered Macy’s from a “buy” rating to a “hold” rating and set a $30.62 price objective for the company. in a report on Thursday, April 20th. Jefferies Group LLC reissued a “hold” rating and issued a $27.00 price objective on shares of Macy’s in a report on Thursday, May 11th. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Wunderlich reissued a “buy” rating and issued a $24.00 price objective on shares of Macy’s in a report on Friday, May 5th. Finally, Gordon Haskett began coverage on Macy’s in a report on Tuesday, May 9th. They issued a “hold” rating and a $29.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.74.
Shares of Macy’s (NYSE:M) traded down 0.29% on Tuesday, hitting $20.29. The company’s stock had a trading volume of 7,942,824 shares. The company has a 50 day moving average of $22.81 and a 200 day moving average of $26.75. The firm has a market cap of $6.18 billion, a PE ratio of 9.22 and a beta of 0.84. Macy’s has a 1-year low of $20.16 and a 1-year high of $45.41.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 21.69% and a net margin of 2.71%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Equities analysts forecast that Macy’s will post $3.33 EPS for the current year.
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In other Macy’s news, insider Jeffrey Gennette bought 13,085 shares of Macy’s stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the acquisition, the insider now directly owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Lenehan bought 4,390 shares of Macy’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average price of $22.72 per share, with a total value of $99,740.80. Following the acquisition, the director now directly owns 5,968 shares of the company’s stock, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in 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 during the last quarter. Ffcm LLC raised its stake in Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the last quarter. Financial Architects Inc raised its stake in 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 during the last quarter. Ropes Wealth Advisors LLC raised its stake in 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 during the last quarter. Finally, Edge Wealth Management LLC acquired a new stake in Macy’s during the second quarter worth about $142,000. Institutional investors own 84.21% of the company’s stock.
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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