Deutsche Bank AG Boosts Macy’s Inc (NYSE:M) Price Target to $25.00
Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) dropped their price target on Macy’s from $28.00 to $25.00 and set a neutral rating on the stock in a research report on Wednesday, June 7th. Vetr upgraded Macy’s from a buy rating to a strong-buy rating and set a $30.62 price target on the stock in a research report on Thursday, May 11th. Gordon Haskett started coverage on Macy’s in a research report on Tuesday, May 9th. They issued a hold rating and a $29.00 price target on the stock. Bank of America Corporation dropped their price target on Macy’s from $31.00 to $25.00 and set a neutral rating on the stock in a research report on Friday, June 9th. Finally, BidaskClub upgraded Macy’s from a sell rating to a hold rating in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $30.84.
Shares of Macy’s (M) traded down 0.24% on Tuesday, reaching $20.62. The company had a trading volume of 12,503,939 shares. The company has a 50 day moving average of $22.86 and a 200-day moving average of $26.87. Macy’s has a 52 week low of $20.16 and a 52 week high of $45.41. The company has a market capitalization of $6.28 billion, a P/E ratio of 9.37 and a beta of 0.84. Macy’s also was the target of unusually large options trading on Wednesday. Traders bought 33,975 call options on the company. This represents an increase of approximately 489% compared to the typical daily volume of 5,766 call options.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.69% and a net margin of 2.71%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Analysts predict that Macy’s will post $3.33 earnings per share for the current fiscal year.
In related news, Director William H. Lenehan acquired 4,390 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the transaction, the director now directly owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Gennette acquired 13,085 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the transaction, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Macy’s during the second quarter valued at about $335,000. Penserra Capital Management LLC increased its position in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after buying an additional 320 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in shares of Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $142,000 after buying an additional 1,866 shares in the last quarter. Ffcm LLC increased its position in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after buying an additional 3,615 shares in the last quarter. Finally, First Manhattan Co. increased its position in shares of Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock valued at $188,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.
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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