BMO Capital Markets Reiterates Outperform Rating for Macy’s Inc (M)
Macy’s Inc (NYSE:M)‘s stock had its “outperform” rating restated by analysts at BMO Capital Markets in a research note issued on Thursday.
M has been the topic of several other research reports. Cowen and Company reiterated a “market perform” rating and set a $23.00 price target on shares of Macy’s in a research report on Wednesday, September 6th. ValuEngine lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. UBS AG reiterated a “neutral” rating and set a $21.00 price target (down previously from $23.00) on shares of Macy’s in a research report on Monday, August 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $21.00 price target (down previously from $24.00) on shares of Macy’s in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.63.
Macy’s (NYSE M) traded down 1.20% during midday trading on Thursday, reaching $22.00. The company’s stock had a trading volume of 8,547,189 shares. The firm has a market cap of $6.70 billion, a P/E ratio of 10.00 and a beta of 0.83. The firm has a 50 day moving average price of $21.76 and a 200-day moving average price of $25.19. Macy’s has a 52 week low of $19.32 and a 52 week high of $45.41. Macy’s also was the recipient of unusually large options trading activity on Wednesday. Investors purchased 813 put options on the company. This represents an increase of approximately 166% compared to the average volume of 306 put options.
Macy’s (NYSE:M) last announced its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. On average, analysts forecast that Macy’s will post $3.38 earnings per share for the current fiscal year.
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In other Macy’s news, Director John A. Bryant purchased 9,825 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in M. Nationwide Fund Advisors raised its stake in Macy’s by 1.7% during the first quarter. Nationwide Fund Advisors now owns 86,071 shares of the company’s stock worth $2,551,000 after buying an additional 1,466 shares during the last quarter. Strs Ohio raised its stake in Macy’s by 37.5% during the first quarter. Strs Ohio now owns 38,391 shares of the company’s stock worth $1,137,000 after buying an additional 10,466 shares during the last quarter. Boston Partners bought a new position in Macy’s during the first quarter worth $469,000. World Asset Management Inc raised its stake in Macy’s by 8.6% during the first quarter. World Asset Management Inc now owns 34,286 shares of the company’s stock worth $1,016,000 after buying an additional 2,715 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Macy’s by 30.8% during the first quarter. UBS Asset Management Americas Inc. now owns 1,293,899 shares of the company’s stock worth $38,351,000 after buying an additional 304,608 shares during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.
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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