Macy’s Inc (NYSE:M)‘s stock had its “outperform” rating restated by BMO Capital Markets in a research note issued on Tuesday.

Other analysts have also issued reports about the stock. Royal Bank Of Canada set a $23.00 price objective on shares of Macy’s and gave the company a “hold” rating in a research note on Friday. Goldman Sachs Group, Inc. (The) reduced their price objective on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 7th. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $30.62 price objective for the company in a research note on Thursday, May 11th. Gordon Haskett assumed coverage on shares of Macy’s in a research note on Tuesday, May 9th. They set a “hold” rating and a $29.00 price objective for the company. Finally, Bank of America Corporation reduced their price objective on shares of Macy’s from $31.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.74.

Shares of Macy’s (NYSE:M) traded down 0.29% during trading on Tuesday, reaching $20.29. 7,942,824 shares of the company’s stock were exchanged. Macy’s has a 52 week low of $20.16 and a 52 week high of $45.41. The company’s 50-day moving average price is $22.81 and its 200 day moving average price is $26.75. The firm has a market capitalization of $6.18 billion, a PE ratio of 9.22 and a beta of 0.84.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.69%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts predict that Macy’s will post $3.33 EPS for the current fiscal year.

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In related news, Director William H. Lenehan purchased 4,390 shares of the stock in a transaction on Thursday, June 15th. The shares were bought at an average price 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Gennette purchased 13,085 shares of the stock in a transaction on Monday, June 12th. The shares were bought at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in M. Congress Asset Management Co. MA bought a new stake in shares of Macy’s during the fourth quarter valued at about $3,765,000. Breton Hill Capital Ltd. bought a new stake in shares of Macy’s during the fourth quarter valued at about $953,000. BB&T Corp increased its stake in shares of Macy’s by 578.8% in the fourth quarter. BB&T Corp now owns 210,296 shares of the company’s stock valued at $7,355,000 after buying an additional 179,314 shares during the last quarter. Hermes Investment Management Ltd. increased its stake in shares of Macy’s by 108.6% in the fourth quarter. Hermes Investment Management Ltd. now owns 124,758 shares of the company’s stock valued at $4,364,000 after buying an additional 64,958 shares during the last quarter. Finally, Douglas C. Lane & Associates Inc. increased its stake in shares of Macy’s by 177.4% in the fourth quarter. Douglas C. Lane & Associates Inc. now owns 853,889 shares of the company’s stock valued at $29,869,000 after buying an additional 546,112 shares during the last quarter. 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.

Analyst Recommendations for Macy`s (NYSE:M)

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