Macy’s’ (M) Hold Rating Reaffirmed at Royal Bank Of Canada
Macy’s Inc (NYSE:M)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Monday. They presently have a $23.00 price target on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 4.07% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) dropped their target price on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 7th. Bank of America Corporation dropped their target price on shares of Macy’s from $31.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, June 9th. BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, UBS AG reaffirmed a “neutral” rating and set a $21.00 target price (down previously from $23.00) on shares of Macy’s in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.63.
Macy’s (NYSE:M) traded down 2.13% during midday trading on Monday, reaching $22.10. 8,159,955 shares of the company were exchanged. The firm’s 50-day moving average is $21.64 and its 200-day moving average is $25.07. The firm has a market cap of $6.73 billion, a P/E ratio of 10.05 and a beta of 0.83. Macy’s has a one year low of $19.32 and a one year high of $45.41.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.48 earnings per share 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 business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the company earned $0.51 earnings per share. Macy’s’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts expect that Macy’s will post $3.38 EPS for the current fiscal year.
In other news, Director John A. Bryant bought 9,825 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $20.32 per share, with a total value of $199,644.00. Following the acquisition, the director now owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC lifted its position in Macy’s by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares in the last quarter. Ffcm LLC lifted its position in Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares in the last quarter. Financial Architects Inc lifted its position in Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares in the last quarter. Edge Wealth Management LLC acquired a new position in Macy’s during the 2nd quarter worth about $142,000. Finally, Pacer Advisors Inc. lifted its position in Macy’s by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock worth $193,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 81.69% 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.
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