Macy’s Inc (NYSE:M)‘s stock had its “outperform” rating reiterated by research analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday.
A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub upgraded Macy’s from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Vetr upgraded Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 price objective on the stock in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $28.00 price objective on shares of Macy’s in a report on Monday, June 19th. Finally, Wedbush restated a “hold” rating on shares of Macy’s in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $27.63.
Shares of Macy’s (NYSE:M) opened at 22.58 on Thursday. The company has a 50-day moving average of $21.64 and a 200-day moving average of $25.07. The stock has a market capitalization of $6.88 billion, a P/E ratio of 10.26 and a beta of 0.83. Macy’s has a 12-month low of $19.32 and a 12-month high of $45.41. Macy’s also was the target of unusually large options trading activity on Wednesday. Traders purchased 813 put options on the company. This is an increase of 166% compared to the average daily volume of 306 put options.
Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities analysts expect that Macy’s will post $3.38 earnings per share for the current fiscal year.
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In other news, Director John A. Bryant bought 9,825 shares of Macy’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares in the company, valued at $199,644. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Macy’s by 2.1% during the second quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock valued at $711,444,000 after acquiring an additional 618,535 shares during the period. BlackRock Inc. lifted its holdings in shares of Macy’s by 3.9% during the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock valued at $589,839,000 after acquiring an additional 963,487 shares during the period. State Street Corp lifted its holdings in shares of Macy’s by 2.8% during the first quarter. State Street Corp now owns 14,715,484 shares of the company’s stock valued at $436,170,000 after acquiring an additional 399,433 shares during the period. American International Group Inc. lifted its holdings in shares of Macy’s by 1.2% during the first quarter. American International Group Inc. now owns 12,086,267 shares of the company’s stock valued at $358,237,000 after acquiring an additional 147,156 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Macy’s by 26.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after acquiring an additional 1,117,903 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.
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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