Macy’s (NYSE:M) Earns Market Perform Rating from Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reiterated by research analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. Telsey Advisory Group’s price target suggests a potential upside of 16.58% from the company’s current price.

A number of other equities research analysts have also weighed in on M. Morgan Stanley set a $14.00 target price on shares of Macy’s in a research note on Monday, March 10th. Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. JPMorgan Chase & Co. cut Macy’s from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. New Street Research set a $13.00 price target on shares of Macy’s in a research report on Thursday, March 6th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Macy’s has an average rating of “Hold” and an average target price of $15.30.

Macy’s Trading Up 2.4 %

Macy’s stock opened at $12.87 on Wednesday. Macy’s has a one year low of $12.48 and a one year high of $20.70. The business’s fifty day moving average is $14.32 and its 200 day moving average is $15.25. The stock has a market capitalization of $3.57 billion, a PE ratio of 21.81 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. On average, sell-side analysts predict that Macy’s will post 2.39 EPS for the current year.

Insider Activity at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of Macy’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antony Spring sold 20,868 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the transaction, the chief executive officer now directly owns 321,244 shares in the company, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,751 shares of company stock worth $537,790. 2.77% of the stock is owned by corporate insiders.

Institutional Trading of Macy’s

A number of institutional investors and hedge funds have recently bought and sold shares of M. Dimensional Fund Advisors LP grew its position in shares of Macy’s by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock valued at $266,666,000 after purchasing an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in Macy’s by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after buying an additional 1,627,572 shares in the last quarter. FMR LLC increased its stake in Macy’s by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after acquiring an additional 2,812,151 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Macy’s by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after acquiring an additional 774,693 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Macy’s during the 4th quarter valued at approximately $96,689,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.