Macy’s (NYSE:M) had its target price reduced by Deutsche Bank from $29.00 to $23.00 in a report released on Thursday, The Fly reports. Deutsche Bank currently has a hold rating on the stock.
M has been the topic of a number of other research reports. Guggenheim reiterated a buy rating and set a $20.00 price objective (down previously from $30.00) on shares of Macy’s in a research report on Thursday. They noted that the move was a valuation call. Goldman Sachs Group upgraded Macy’s from a sell rating to a neutral rating and reduced their price objective for the stock from $23.00 to $21.00 in a research report on Thursday, May 16th. Telsey Advisory Group reiterated a market perform rating and set a $18.00 price objective (down previously from $25.00) on shares of Macy’s in a research report on Thursday. JPMorgan Chase & Co. downgraded Macy’s from a neutral rating to an underweight rating in a research report on Wednesday, August 14th. Finally, Zacks Investment Research upgraded Macy’s from a sell rating to a hold rating in a research report on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Macy’s has a consensus rating of Hold and a consensus price target of $23.83.
Shares of Macy’s stock opened at $15.98 on Thursday. Macy’s has a one year low of $15.80 and a one year high of $39.00. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 3.82, a PEG ratio of 0.77 and a beta of 0.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 1.47. The business’s 50 day moving average price is $21.18 and its 200 day moving average price is $22.86.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.17). Macy’s had a return on equity of 18.74% and a net margin of 4.11%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts predict that Macy’s will post 2.85 EPS for the current fiscal year.
In other Macy’s news, Director Francis S. Blake bought 10,000 shares of Macy’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average price of $21.63 per share, for a total transaction of $216,300.00. Following the completion of the transaction, the director now directly owns 2,200 shares of the company’s stock, valued at $47,586. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total value of $25,325.70. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Macy’s by 1.9% in the second quarter. BlackRock Inc. now owns 30,631,976 shares of the company’s stock valued at $657,361,000 after buying an additional 558,052 shares in the last quarter. Yacktman Asset Management LP acquired a new stake in shares of Macy’s in the second quarter valued at $237,280,000. Invesco Ltd. grew its stake in shares of Macy’s by 62.2% in the second quarter. Invesco Ltd. now owns 5,600,515 shares of the company’s stock valued at $120,187,000 after buying an additional 2,148,243 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Macy’s by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock valued at $153,359,000 after buying an additional 355,028 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Macy’s by 27.8% in the second quarter. Prudential Financial Inc. now owns 4,474,936 shares of the company’s stock valued at $96,032,000 after buying an additional 973,117 shares in the last quarter. Institutional investors own 90.71% of the company’s stock.
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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