Macy’s’ (M) Market Perform Rating Reaffirmed at Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued to investors on Thursday, Benzinga reports. They presently have a $21.00 price objective on the stock. Telsey Advisory Group’s price target suggests a potential upside of 5.82% from the stock’s previous close.

M has been the subject of a number of other reports. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Morgan Stanley reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. TD Cowen cut shares of Macy’s from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. StockNews.com initiated coverage on shares of Macy’s in a research note on Saturday, March 23rd. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.45.

Macy’s Price Performance

NYSE:M opened at $19.85 on Thursday. The firm’s fifty day moving average is $19.43 and its two-hundred day moving average is $16.30. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 53.64 and a beta of 2.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. Macy’s has a one year low of $10.54 and a one year high of $22.10.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same period last year, the company earned $1.88 earnings per share. Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts expect that Macy’s will post 2.57 EPS for the current year.

Insider Buying and Selling at Macy’s

In related news, SVP Paul Griscom sold 2,969 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $270,544.58. Following the completion of the transaction, the chief financial officer now owns 99,098 shares in the company, valued at $2,023,581.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul Griscom sold 2,969 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The disclosure for this sale can be found here. Insiders have sold 152,994 shares of company stock valued at $3,120,008 over the last 90 days. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Macy’s

A number of hedge funds have recently bought and sold shares of M. Point72 Asset Management L.P. boosted its position in shares of Macy’s by 1,054.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after acquiring an additional 9,906,912 shares in the last quarter. Holocene Advisors LP boosted its holdings in Macy’s by 171.1% in the second quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock valued at $89,603,000 after purchasing an additional 3,523,368 shares in the last quarter. Norges Bank purchased a new position in Macy’s in the fourth quarter valued at approximately $62,529,000. Vanguard Group Inc. lifted its position in shares of Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Macy’s by 196.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock valued at $71,309,000 after buying an additional 2,287,287 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.