Macy’s (NYSE:M) had its price objective reduced by Credit Suisse Group from $34.00 to $26.00 in a report released on Friday, The Fly reports. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target indicates a potential upside of 2.28% from the company’s previous close.
Several other research analysts have also commented on M. Zacks Investment Research upgraded Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Wednesday, October 3rd. Bank of America lowered Macy’s from a “neutral” rating to an “underperform” rating in a research report on Thursday. ValuEngine upgraded Macy’s from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Gordon Haskett lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Atlantic Securities lowered Macy’s from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $39.00 to $28.00 in a research report on Thursday, December 6th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.26.
Shares of Macy’s stock traded down $0.69 during trading on Friday, reaching $25.42. 20,290,599 shares of the stock traded hands, compared to its average volume of 14,045,717. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 0.91 and a beta of 0.67. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. Macy’s has a 52-week low of $22.47 and a 52-week high of $41.99.
Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities analysts expect that Macy’s will post 4.09 EPS for the current fiscal year.
In other news, Director William H. Lenehan acquired 3,154 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $31.74 per share, with a total value of $100,107.96. Following the completion of the purchase, the director now directly owns 11,214 shares in the company, valued at $355,932.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Harry A. Lawton III sold 200,000 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $33.09, for a total transaction of $6,618,000.00. Following the completion of the sale, the president now directly owns 226,038 shares of the company’s stock, valued at approximately $7,479,597.42. The disclosure for this sale can be found here. 2.36% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Edge Wealth Management LLC bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $447,000. State of Alaska Department of Revenue raised its stake in shares of Macy’s by 2.6% during the fourth quarter. State of Alaska Department of Revenue now owns 129,348 shares of the company’s stock valued at $3,850,000 after acquiring an additional 3,268 shares in the last quarter. Cerebellum GP LLC bought a new position in Macy’s in the fourth quarter worth approximately $221,000. Cumberland Advisors Inc. bought a new position in Macy’s in the fourth quarter worth approximately $974,000. Finally, Palo Capital Inc. bought a new position in Macy’s in the third quarter worth approximately $691,000. 91.04% of the stock is owned by hedge funds and other institutional investors.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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