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 report released on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 16.58% from the stock’s current price.

Several other research firms have also issued reports on M. The Goldman Sachs Group lowered their target price on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, March 7th. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark upgraded Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Cowen reissued a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Finally, Morgan Stanley set a $14.00 price objective on Macy’s in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.30.

Macy’s Trading Up 2.4 %

Shares of M stock opened at $12.87 on Wednesday. The company has a market cap of $3.57 billion, a PE ratio of 21.81 and a beta of 2.07. Macy’s has a 1 year low of $12.48 and a 1 year high of $20.70. The stock’s 50 day simple moving average is $14.32 and its two-hundred day simple moving average is $15.25. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last released its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Research analysts predict that Macy’s will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the sale, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of Macy’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the completion of the transaction, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock worth $537,790 in the last three months. Corporate insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Macy’s by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock valued at $266,666,000 after buying an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC lifted its position in Macy’s by 26.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after acquiring an additional 1,627,572 shares during the last quarter. FMR LLC boosted its stake in Macy’s by 59.9% in the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after acquiring an additional 2,812,151 shares in the last quarter. American Century Companies Inc. grew its holdings in Macy’s by 12.2% in the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after purchasing an additional 774,693 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Macy’s during the fourth quarter worth $96,689,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.