Telsey Advisory Group Reiterates Market Perform Rating for Macy’s (NYSE:M)

Telsey Advisory Group restated their market perform rating on shares of Macy’s (NYSE:M) in a report released on Thursday, Briefing.com Automated Import reports. Telsey Advisory Group currently has a $18.00 target price on the stock, down from their previous target price of $25.00.

A number of other equities research analysts have also issued reports on the stock. UBS Group set a $25.00 target price on shares of Macy’s and gave the stock a hold rating in a report on Friday, May 17th. Goldman Sachs Group upgraded shares of Macy’s from a sell rating to a neutral rating and reduced their target price for the stock from $23.00 to $21.00 in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered shares of Macy’s from a neutral rating to an underweight rating in a report on Wednesday, August 14th. Deutsche Bank raised their price objective on shares of Macy’s from $27.00 to $28.00 and gave the company a hold rating in a report on Thursday, May 16th. Finally, Zacks Investment Research upgraded shares of Macy’s from a sell rating to a hold rating in a report on Thursday, May 16th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Macy’s has a consensus rating of Hold and a consensus target price of $23.83.

NYSE:M opened at $15.98 on Thursday. 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 stock has a market capitalization of $4.99 billion, a P/E ratio of 3.82, a PEG ratio of 0.77 and a beta of 0.55. The company has a 50 day moving average price of $21.18 and a 200 day moving average price of $22.86. Macy’s has a fifty-two week low of $15.80 and a fifty-two week high of $39.00.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.17). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a return on equity of 18.74% and a net margin of 4.11%. Macy’s’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. Research analysts forecast that Macy’s will post 2.85 earnings per share for the current fiscal year.

In other news, Director Francis S. Blake bought 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $21.63 per share, with a total value of $216,300.00. Following the completion of the acquisition, the director now directly owns 2,200 shares in the company, valued at $47,586. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $21.30, for a total transaction of $25,325.70. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Several large investors have recently modified their holdings of the company. Maverick Capital Ltd. lifted its stake in shares of Macy’s by 99.6% in the second quarter. Maverick Capital Ltd. now owns 752,610 shares of the company’s stock valued at $16,151,000 after purchasing an additional 375,620 shares during the period. Magnetar Financial LLC lifted its stake in shares of Macy’s by 85.6% in the second quarter. Magnetar Financial LLC now owns 31,582 shares of the company’s stock valued at $678,000 after purchasing an additional 14,566 shares during the period. Prudential PLC lifted its stake in shares of Macy’s by 9.9% in the second quarter. Prudential PLC now owns 4,319,853 shares of the company’s stock valued at $92,700,000 after purchasing an additional 388,253 shares during the period. Stamos Capital Partners L.P. lifted its stake in shares of Macy’s by 74.2% in the second quarter. Stamos Capital Partners L.P. now owns 93,700 shares of the company’s stock valued at $2,004,000 after purchasing an additional 39,900 shares during the period. Finally, Eaton Vance Management lifted its stake in shares of Macy’s by 1.3% in the second quarter. Eaton Vance Management now owns 111,505 shares of the company’s stock valued at $2,393,000 after purchasing an additional 1,485 shares during the period. 90.71% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Macy`s (NYSE:M)

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