Macy’s (NYSE:M) had its target price raised by investment analysts at JPMorgan Chase & Co. from $15.00 to $16.00 in a report released on Monday, The Fly reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential downside of 4.65% from the company’s current price.
A number of other research firms have also issued reports on M. Deutsche Bank Aktiengesellschaft boosted their price objective on Macy’s from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, February 24th. HC Wainwright reiterated a “buy” rating on shares of Macy’s in a research report on Wednesday, January 20th. Morgan Stanley boosted their price target on Macy’s from $6.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday, February 25th. Credit Suisse Group boosted their price target on Macy’s from $7.00 to $13.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 2nd. Finally, Telsey Advisory Group boosted their price target on Macy’s from $10.00 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, February 19th. Seven analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Macy’s has an average rating of “Hold” and an average price target of $10.25.
Shares of M opened at $16.78 on Monday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -1.38 and a beta of 1.98. The stock has a 50 day moving average of $16.71 and a 200-day moving average of $12.05. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 2.16. Macy’s has a 52 week low of $4.65 and a 52 week high of $22.30.
Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, February 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.61. Macy’s had a negative return on equity of 8.21% and a negative net margin of 19.91%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.50 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, sell-side analysts predict that Macy’s will post -2.9 earnings per share for the current fiscal year.
In related news, Director Paul C. Varga bought 33,115 shares of the business’s stock in a transaction dated Friday, February 26th. The shares were bought at an average cost of $15.42 per share, with a total value of $510,633.30. Also, EVP John T. Harper sold 5,255 shares of the business’s stock in a transaction on Wednesday, March 24th. The stock was sold at an average price of $16.25, for a total value of $85,393.75. Following the sale, the executive vice president now directly owns 36,539 shares in the company, valued at $593,758.75. The disclosure for this sale can be found here. Insiders sold a total of 6,112 shares of company stock worth $100,826 in the last three months. Company insiders own 0.58% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in Macy’s during the fourth quarter valued at $36,000. California State Teachers Retirement System grew its stake in Macy’s by 1.1% in the third quarter. California State Teachers Retirement System now owns 581,875 shares of the company’s stock valued at $3,317,000 after purchasing an additional 6,449 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new position in Macy’s in the fourth quarter valued at about $28,000. Fruth Investment Management grew its stake in Macy’s by 4.8% in the fourth quarter. Fruth Investment Management now owns 33,050 shares of the company’s stock valued at $371,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Macy’s by 6.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,707 shares of the company’s stock valued at $1,662,000 after purchasing an additional 8,780 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.
Macy’s, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy’s, Bloomingdale’s, and bluemercury brands. It sells a range of merchandise, including apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods.
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