Guggenheim Reiterates “Buy” Rating for Macy’s (NYSE:M)

Guggenheim restated their buy rating on shares of Macy’s (NYSE:M) in a report published on Thursday, The Fly reports. They currently have a $20.00 price target on the stock, down from their previous price target of $30.00. The analysts noted that the move was a valuation call.

Several other research analysts have also recently issued reports on M. Goldman Sachs Group upgraded shares of Macy’s from a sell rating to a neutral rating and lowered their target price for the company from $23.00 to $21.00 in a report on Thursday, May 16th. Deutsche Bank upped their target price 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. Telsey Advisory Group restated a market perform rating and issued a $18.00 target price (down previously from $25.00) on shares of Macy’s in a report on Thursday. JPMorgan Chase & Co. cut shares of Macy’s from a neutral rating to an underweight rating in a report on Wednesday, August 14th. 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $23.83.

NYSE M opened at $15.98 on Thursday. The company has a quick ratio of 0.32, a current ratio of 1.47 and a debt-to-equity ratio of 1.19. Macy’s has a 52 week low of $15.80 and a 52 week high of $39.00. The stock has a market capitalization of $4.99 billion, a PE ratio of 3.82, a price-to-earnings-growth ratio of 0.77 and a beta of 0.55. The firm has a 50 day moving average of $21.18 and a two-hundred day moving average of $22.86.

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

In other Macy’s news, President Harry A. Lawton III purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $21.37 per share, for a total transaction of $106,850.00. Following the purchase, the president now directly owns 31,038 shares in the company, valued at $663,282.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Francis S. Blake purchased 10,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 2,200 shares in the company, valued at $47,586. The disclosure for this purchase can be found here. 0.55% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in M. Empirical Finance LLC increased its holdings in shares of Macy’s by 1.1% in the 2nd quarter. Empirical Finance LLC now owns 43,771 shares of the company’s stock valued at $939,000 after purchasing an additional 466 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Macy’s by 3.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,428 shares of the company’s stock valued at $347,000 after purchasing an additional 473 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Macy’s by 2.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 21,440 shares of the company’s stock valued at $515,000 after purchasing an additional 487 shares in the last quarter. Destination Wealth Management increased its holdings in shares of Macy’s by 27.1% in the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock valued at $56,000 after purchasing an additional 500 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in shares of Macy’s by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 43,868 shares of the company’s stock valued at $1,054,000 after purchasing an additional 520 shares in the last quarter. Institutional investors own 90.71% of the company’s stock.

About Macy’s

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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The Fly

Analyst Recommendations for Macy`s (NYSE:M)

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