Macy’s Inc (M) Stock Rating Lowered by BidaskClub
Macy’s Inc (NYSE:M) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Vetr downgraded Macy’s from a “buy” rating to a “hold” rating and set a $30.62 target price on the stock. in a research report on Thursday, April 27th. Wunderlich reissued a “buy” rating and set a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Gordon Haskett initiated coverage on Macy’s in a research report on Tuesday, May 9th. They set a “hold” rating and a $29.00 target price on the stock. Finally, Jefferies Group LLC reissued a “hold” rating and set a $27.00 target price on shares of Macy’s in a research report on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s presently has an average rating of “Hold” and a consensus target price of $29.74.
Shares of Macy’s (NYSE M) traded down 0.66% on Friday, reaching $19.49. The company had a trading volume of 10,487,634 shares. The company has a 50-day moving average price of $22.46 and a 200-day moving average price of $26.52. Macy’s has a 52-week low of $19.35 and a 52-week high of $45.41. The firm has a market capitalization of $5.94 billion, a PE ratio of 8.86 and a beta of 0.84. Macy’s also saw some unusual options trading on Wednesday. Stock investors purchased 813 put options on the stock. This is an increase of 166% compared to the typical daily volume of 306 put options.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. Equities research analysts forecast that Macy’s will post $3.38 EPS for the current fiscal year.
In other news, insider Jeffrey Gennette bought 13,085 shares of the business’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 purchase, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Lenehan bought 4,390 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was purchased at an average price of $22.72 per share, with a total value of $99,740.80. Following the purchase, the director now directly owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its position in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares during the period. Ffcm LLC boosted its position in Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after buying an additional 3,615 shares during the period. Financial Architects Inc boosted its position in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after buying an additional 4,200 shares during the period. Ropes Wealth Advisors LLC boosted its position in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares during the period. Finally, Edge Wealth Management LLC bought a new position in Macy’s during the second quarter valued at $142,000. Hedge funds and other institutional investors own 84.21% of the company’s stock.
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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