Macy’s (NYSE:M) had its price objective boosted by Deutsche Bank from $27.00 to $28.00 in a report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the stock.
M has been the subject of several other research reports. Desjardins reaffirmed an average rating and issued a $5.25 price objective on shares of Macy’s in a report on Friday, March 22nd. Standpoint Research raised shares of Macy’s from a hold rating to a buy rating in a report on Wednesday, April 3rd. Guggenheim reaffirmed a buy rating and issued a $30.00 price objective on shares of Macy’s in a report on Tuesday, February 26th. TheStreet downgraded shares of Macy’s from a b- rating to a c+ rating in a report on Tuesday, February 5th. Finally, Zacks Investment Research raised shares of Macy’s from a strong sell rating to a hold rating in a report on Tuesday, March 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $28.93.
Shares of Macy’s stock traded up $0.53 during trading on Thursday, hitting $22.03. 244,757 shares of the stock were exchanged, compared to its average volume of 8,955,288. The firm has a market capitalization of $6.67 billion, a P/E ratio of 5.27, a P/E/G ratio of 0.82 and a beta of 0.41. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.42 and a current ratio of 1.42. Macy’s has a 12 month low of $21.08 and a 12 month high of $41.99.
Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The business had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, sell-side analysts forecast that Macy’s will post 3.1 earnings per share for the current year.
In other Macy’s news, Director Deirdre P. Connelly sold 6,250 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $25.76, for a total value of $161,000.00. Following the completion of the sale, the director now directly owns 17,092 shares of the company’s stock, valued at approximately $440,289.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joyce M. Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $24.30, for a total transaction of $243,000.00. Following the completion of the sale, the director now directly owns 13,647 shares of the company’s stock, valued at $331,622.10. The disclosure for this sale can be found here. Insiders sold a total of 16,921 shares of company stock valued at $421,238 over the last three months. 0.55% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of M. Oregon Public Employees Retirement Fund lifted its stake in Macy’s by 2,958.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,681,203 shares of the company’s stock valued at $224,000 after buying an additional 6,462,771 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Macy’s during the first quarter valued at about $86,346,000. Norges Bank purchased a new stake in Macy’s during the fourth quarter valued at about $96,799,000. OppenheimerFunds Inc. lifted its stake in Macy’s by 2,206.5% during the first quarter. OppenheimerFunds Inc. now owns 3,070,872 shares of the company’s stock valued at $73,793,000 after buying an additional 2,937,732 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in Macy’s by 6.5% during the third quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock valued at $1,222,675,000 after buying an additional 2,133,597 shares in the last quarter. 90.18% of the stock is owned by institutional investors.
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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