Macy’s (M) Stock Rating Lowered by Atlantic Securities

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Macy’s (NYSE:M) was downgraded by equities research analysts at Atlantic Securities from a “neutral” rating to an “underweight” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $28.00 target price on the stock, down from their previous target price of $39.00. Atlantic Securities’ price objective suggests a potential downside of 11.64% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on M. Zacks Investment Research reissued a “hold” rating and set a $43.00 price target on shares of Macy’s in a research report on Wednesday, November 14th. Deutsche Bank boosted their price target on Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. Bank of America set a $39.00 price objective on Macy’s and gave the stock a “hold” rating in a research note on Thursday, November 15th. Standpoint Research cut Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Morgan Stanley boosted their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Thursday, August 16th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.30.

M stock opened at $31.69 on Thursday. Macy’s has a 12-month low of $22.47 and a 12-month high of $41.99. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.93 and a beta of 0.56.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Macy’s will post 4.08 earnings per share for the current year.

In other Macy’s news, Director William H. Lenehan purchased 3,154 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The shares were acquired at an average price of $31.74 per share, for a total transaction of $100,107.96. Following the completion of the purchase, the director now owns 11,214 shares in the company, valued at approximately $355,932.36. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Harry A. Lawton III sold 28,684 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the transaction, the president now owns 54,722 shares in the company, valued at approximately $1,972,728.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,312 shares of company stock worth $7,817,972. Insiders own 2.36% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Macy’s by 6.5% in the third quarter. Vanguard Group Inc. now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after acquiring an additional 2,133,597 shares in the last quarter. BlackRock Inc. raised its stake in Macy’s by 1.6% during the third quarter. BlackRock Inc. now owns 28,532,647 shares of the company’s stock valued at $990,939,000 after buying an additional 460,868 shares in the last quarter. AQR Capital Management LLC raised its stake in Macy’s by 88.7% during the third quarter. AQR Capital Management LLC now owns 11,960,108 shares of the company’s stock valued at $415,374,000 after buying an additional 5,620,910 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Macy’s by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock valued at $367,847,000 after buying an additional 25,971 shares in the last quarter. Finally, FMR LLC raised its stake in Macy’s by 2.1% during the second quarter. FMR LLC now owns 7,740,157 shares of the company’s stock valued at $289,715,000 after buying an additional 162,184 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Analyst Recommendations for Macy`s (NYSE:M)

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