Macy’s Inc (M) Downgraded by Vetr Inc. to Hold

Vetr lowered shares of Macy’s Inc (NYSE:M) from a buy rating to a hold rating in a report released on Monday. They currently have $33.16 price target on the stock.

A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded Macy’s from a hold rating to a buy rating and set a $41.00 target price on the stock in a research report on Wednesday, November 2nd. Deutsche Bank AG upgraded Macy’s from a hold rating to a buy rating and upped their target price for the company from $40.00 to $45.00 in a research report on Monday, October 31st. Guggenheim restated a buy rating on shares of Macy’s in a research report on Saturday, January 7th. Jefferies Group LLC restated a hold rating and issued a $40.00 price objective on shares of Macy’s in a research report on Friday, November 11th. Finally, Stifel Nicolaus restated a hold rating and issued a $38.00 price objective on shares of Macy’s in a research report on Tuesday, November 1st. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Macy’s has an average rating of Hold and a consensus target price of $39.52.

Macy’s (NYSE:M) opened at 31.99 on Monday. The stock has a market cap of $9.78 billion, a PE ratio of 14.56 and a beta of 0.79. Macy’s has a 52 week low of $28.55 and a 52 week high of $45.50. The company’s 50-day moving average is $31.61 and its 200 day moving average is $36.51.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.24. Macy’s had a return on equity of 24.83% and a net margin of 2.63%. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. Macy’s’s revenue was down 4.2% on a year-over-year basis. On average, analysts expect that Macy’s will post $3.05 earnings per share for the current fiscal year.

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In other news, Director Craig Weatherup sold 20,000 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $672,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Anchor Capital Advisors LLC boosted its position in shares of Macy’s by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 139,500 shares of the company’s stock worth $4,689,000 after buying an additional 1,100 shares during the period. General American Investors Co. Inc. boosted its position in shares of Macy’s by 11.9% in the second quarter. General American Investors Co. Inc. now owns 375,026 shares of the company’s stock worth $12,605,000 after buying an additional 40,000 shares during the period. Klingenstein Fields & Co. LLC purchased a new position in shares of Macy’s during the second quarter worth approximately $4,713,000. Evercore Wealth Management LLC boosted its position in shares of Macy’s by 12.5% in the second quarter. Evercore Wealth Management LLC now owns 15,980 shares of the company’s stock worth $537,000 after buying an additional 1,781 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Macy’s by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 13,078,674 shares of the company’s stock worth $439,572,000 after buying an additional 232,280 shares during the period. Institutional investors own 86.28% 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.

5 Day Chart for NYSE:M

To view Vetr’s full report, visit Vetr’s official website.

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