Shares of Macy’s Inc (NYSE:M) have been assigned an average rating of “Hold” from the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.82.

Several brokerages have commented on M. Royal Bank Of Canada set a $28.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Saturday, May 13th. Cowen and Company set a $29.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Saturday, May 13th. UBS AG reissued a “neutral” rating and set a $21.00 target price (down previously from $23.00) on shares of Macy’s in a research note on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Macy’s in a research note on Tuesday. Finally, Telsey Advisory Group lowered their target price on Macy’s from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, June 7th.

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Macy’s (M) traded up 0.15% during midday trading on Friday, hitting $20.32. 4,780,002 shares of the stock traded hands. The firm’s 50 day moving average is $22.75 and its 200-day moving average is $26.69. The stock has a market capitalization of $6.19 billion, a PE ratio of 9.24 and a beta of 0.84. Macy’s has a 12-month low of $20.16 and a 12-month high of $45.41.

Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.52 billion. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Macy’s will post $3.33 EPS for the current fiscal year.

In other Macy’s news, insider Jeffrey Gennette purchased 13,085 shares of the business’s stock in a transaction on Monday, June 12th. The shares were purchased at an average cost of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now owns 89,053 shares of the company’s stock, valued at $2,043,766.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Lenehan purchased 4,390 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now directly owns 5,968 shares in the company, valued at approximately $135,592.96. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. boosted its position in Macy’s by 0.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 263,132 shares of the company’s stock worth $7,799,000 after buying an additional 2,094 shares during the last quarter. Creative Planning boosted its position in Macy’s by 14.3% in the first quarter. Creative Planning now owns 19,135 shares of the company’s stock worth $567,000 after buying an additional 2,393 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its position in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the last quarter. Heritage Investors Management Corp boosted its position in Macy’s by 0.3% in the first quarter. Heritage Investors Management Corp now owns 19,254 shares of the company’s stock worth $571,000 after buying an additional 50 shares during the last quarter. Finally, Americafirst Capital Management LLC boosted its position in Macy’s by 169.9% in the first quarter. Americafirst Capital Management LLC now owns 9,558 shares of the company’s stock worth $283,000 after buying an additional 6,017 shares during the last quarter. Hedge funds and other institutional investors own 84.21% of the company’s stock.

About Macy’s

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.

Analyst Recommendations for Macy`s (NYSE:M)

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