BMO Capital Markets Reaffirms Buy Rating for Macy’s Inc (NYSE:M)

Macy’s Inc (NYSE:M)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a research note issued to investors on Friday. They presently have a $36.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 74.17% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday. Deutsche Bank AG lifted their price target on shares of Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday. Vetr raised shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $26.51 price target for the company in a research report on Wednesday, August 2nd. Wedbush reissued a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Finally, BidaskClub raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $32.11.

Macy’s (NYSE:M) opened at 20.67 on Friday. The company’s 50-day moving average is $22.91 and its 200 day moving average is $26.93. The firm has a market cap of $6.29 billion, a PE ratio of 11.15 and a beta of 0.84. Macy’s has a one year low of $20.55 and a one year high of $45.41. Macy’s also was the target of some unusual options trading activity on Wednesday. Traders purchased 33,975 call options on the stock. This is an increase of approximately 489% compared to the typical volume of 5,766 call options.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the firm posted $0.51 EPS. Macy’s’s revenue was down 5.4% compared to the same quarter last year. Equities analysts anticipate that Macy’s will post $3.29 earnings per share for the current year.

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In other news, Director William H. Lenehan acquired 4,390 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the purchase, the director now owns 5,968 shares of the company’s stock, valued at approximately $135,592.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Gennette acquired 13,085 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the completion of the purchase, the insider now directly owns 89,053 shares in the company, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Macy’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 29,994,367 shares of the company’s stock worth $889,033,000 after buying an additional 825,309 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Macy’s by 3.9% in the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock valued at $589,839,000 after buying an additional 963,487 shares in the last quarter. State Street Corp boosted its stake in shares of Macy’s by 2.8% in the first quarter. State Street Corp now owns 14,715,484 shares of the company’s stock valued at $436,170,000 after buying an additional 399,433 shares in the last quarter. American International Group Inc. boosted its stake in shares of Macy’s by 1.2% in the first quarter. American International Group Inc. now owns 12,086,267 shares of the company’s stock valued at $358,237,000 after buying an additional 147,156 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Macy’s by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 7,412,574 shares of the company’s stock valued at $219,709,000 after buying an additional 234,641 shares in the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Macy`s (NYSE:M)

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