Macy’s (NYSE:M) received a $25.00 price target from equities researchers at UBS Group in a research report issued to clients and investors on Friday, TipRanks reports. The firm presently has a “hold” rating on the stock. UBS Group’s price target points to a potential upside of 14.84% from the company’s previous close.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating in a report on Thursday. Deutsche Bank upped their price objective on shares of Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a report on Thursday. Goldman Sachs Group raised shares of Macy’s from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $21.00 in a report on Thursday. Standpoint Research raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Desjardins reaffirmed an “average” rating and set a $5.25 price objective on shares of Macy’s in a report on Friday, March 22nd. Four investment 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. Macy’s currently has an average rating of “Hold” and a consensus target price of $28.10.
NYSE M traded up $0.27 during trading on Friday, hitting $21.77. 11,197,889 shares of the company’s stock traded hands, compared to its average volume of 9,703,382. The company has a market cap of $6.67 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 0.82 and a beta of 0.41. Macy’s has a 12-month low of $21.08 and a 12-month high of $41.99. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.19.
Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The business had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, equities research analysts anticipate that Macy’s will post 3.1 EPS for the current year.
In related news, Director Joyce M. Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $24.30, for a total value of $243,000.00. Following the transaction, the director now directly owns 13,647 shares in the company, valued at $331,622.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deirdre P. Connelly sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $25.76, for a total transaction of $161,000.00. Following the completion of the transaction, the director now owns 17,092 shares in the company, valued at $440,289.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,921 shares of company stock worth $421,238. Company insiders own 0.55% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc increased its position in shares of Macy’s by 6.5% in the third quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after purchasing an additional 2,133,597 shares during the last quarter. BlackRock Inc. increased its position in shares of Macy’s by 0.4% in the first quarter. BlackRock Inc. now owns 30,073,924 shares of the company’s stock worth $722,677,000 after purchasing an additional 121,302 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Macy’s by 23.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,559,577 shares of the company’s stock worth $205,696,000 after purchasing an additional 1,599,445 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Macy’s by 2,958.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,681,203 shares of the company’s stock worth $224,000 after purchasing an additional 6,462,771 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Macy’s by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock worth $153,359,000 after purchasing an additional 355,028 shares during the last quarter. Institutional investors own 90.18% of the company’s stock.
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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