Macy’s (M) Upgraded to Neutral by Goldman Sachs Group

Macy’s (NYSE:M) was upgraded by stock analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Standpoint Research raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Desjardins reissued an “average” rating and set a $5.25 price target on shares of Macy’s in a research note on Friday, March 22nd. ValuEngine downgraded shares of Macy’s from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 28th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $27.00 price target on shares of Macy’s in a research note on Wednesday, February 27th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Macy’s has a consensus rating of “Hold” and an average price target of $30.22.

Shares of M stock opened at $21.80 on Thursday. Macy’s has a 1 year low of $21.08 and a 1 year high of $41.99. The company has a market cap of $6.67 billion, a PE ratio of 5.22, a P/E/G ratio of 0.82 and a beta of 0.41. The company has a current ratio of 1.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.73.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.11. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the business earned $0.48 earnings per share. Macy’s’s quarterly revenue was down .7% on a year-over-year basis. Research analysts predict that Macy’s will post 3.1 EPS for the current year.

In other Macy’s news, Director Joyce M. Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $24.30, for a total value of $243,000.00. Following the completion of the sale, the director now owns 13,647 shares of the company’s stock, valued at $331,622.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deirdre P. Connelly sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $25.76, for a total transaction of $161,000.00. Following the completion of the sale, the director now directly owns 17,092 shares of the company’s stock, valued at approximately $440,289.92. The disclosure for this sale can be found here. Insiders sold 16,921 shares of company stock valued at $421,238 in the last ninety days. Insiders own 0.55% of the company’s stock.

Large investors have recently modified their holdings of the business. Investors Research Corp boosted its holdings in Macy’s by 1.0% during the fourth quarter. Investors Research Corp now owns 41,039 shares of the company’s stock worth $1,222,000 after purchasing an additional 400 shares during the last quarter. Securian Asset Management Inc boosted its holdings in Macy’s by 1.3% during the fourth quarter. Securian Asset Management Inc now owns 31,365 shares of the company’s stock worth $934,000 after purchasing an additional 403 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Macy’s by 5.5% during the fourth quarter. Park Avenue Securities LLC now owns 8,488 shares of the company’s stock worth $216,000 after purchasing an additional 443 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Macy’s by 3.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,428 shares of the company’s stock worth $347,000 after purchasing an additional 473 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Macy’s by 2.3% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 21,440 shares of the company’s stock worth $515,000 after purchasing an additional 487 shares during the last quarter. 90.18% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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The Fly

Analyst Recommendations for Macy`s (NYSE:M)

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