Macy’s Inc (NYSE:M) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They presently have a $33.16 price target on the stock. Vetr‘s price objective would suggest a potential upside of 3.66% from the stock’s previous close.
M has been the subject of several other reports. BMO Capital Markets reiterated an “outperform” rating and set a $45.00 price target (down from $51.00) on shares of Macy’s in a report on Wednesday, November 30th. Credit Suisse Group reiterated a “neutral” rating and set a $40.00 price target on shares of Macy’s in a report on Tuesday, December 6th. Jefferies Group LLC reiterated a “hold” rating and set a $40.00 price target on shares of Macy’s in a report on Friday, November 11th. OTR Global upgraded Macy’s from a “negative” rating to a “mixed” rating in a report on Wednesday, November 2nd. Finally, Zacks Investment Research upgraded Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Wednesday, November 2nd. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company’s stock. Macy’s currently has a consensus rating of “Hold” and an average price target of $39.52.
Macy’s (NYSE:M) opened at 31.99 on Monday. The stock’s 50 day moving average is $31.61 and its 200-day moving average is $36.51. The firm has a market capitalization of $9.78 billion, a PE ratio of 14.56 and a beta of 0.79. Macy’s has a 1-year low of $28.55 and a 1-year high of $45.50.
Macy’s (NYSE:M) last released its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.24. Macy’s had a net margin of 2.63% and a return on equity of 24.83%. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the firm earned $0.56 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts forecast that Macy’s will post $3.05 EPS for the current year.
TRADEMARK VIOLATION WARNING: This piece was originally reported by sleekmoney and is the sole property of of sleekmoney. If you are viewing this piece on another website, it was stolen and republished in violation of US & international trademark and copyright legislation. The original version of this piece can be read at http://sleekmoney.com/macys-inc-m-rating-lowered-to-hold-at-vetr-inc/1658005.html.
In other news, Director Craig Weatherup sold 20,000 shares of the company’s 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 transaction, the director now owns 16,000 shares of the company’s stock, valued at $672,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC raised its position in Macy’s by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 139,500 shares of the company’s stock valued at $4,689,000 after buying an additional 1,100 shares during the last quarter. General American Investors Co. Inc. raised its position in Macy’s by 11.9% in the second quarter. General American Investors Co. Inc. now owns 375,026 shares of the company’s stock valued at $12,605,000 after buying an additional 40,000 shares during the last quarter. Klingenstein Fields & Co. LLC bought a new position in Macy’s during the second quarter valued at $4,713,000. Evercore Wealth Management LLC raised its position in Macy’s by 12.5% in the second quarter. Evercore Wealth Management LLC now owns 15,980 shares of the company’s stock valued at $537,000 after buying an additional 1,781 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 valued at $439,572,000 after buying an additional 232,280 shares during the last quarter. 86.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/macys-inc-m-rating-lowered-to-hold-at-vetr-inc/1658005.html
Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.