Macy’s (NYSE:M) was upgraded by Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

A number of other research analysts have also recently issued reports on M. Zacks Investment Research cut Macy’s from a “hold” rating to a “strong sell” rating in a report on Friday, March 1st. Jefferies Financial Group reissued a “hold” rating and set a $27.00 price objective on shares of Macy’s in a report on Wednesday, February 27th. ValuEngine raised Macy’s from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Desjardins reissued an “average” rating and set a $5.25 price objective on shares of Macy’s in a report on Friday, March 22nd. Finally, Guggenheim reissued a “buy” rating and set a $30.00 price objective on shares of Macy’s in a report on Tuesday, February 26th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.22.

Shares of M stock opened at $21.80 on Thursday. The firm has a market capitalization of $6.67 billion, a P/E ratio of 5.22, a PEG ratio of 0.82 and a beta of 0.41. Macy’s has a one year low of $21.08 and a one year high of $41.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.42 and a quick ratio of 0.42.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 21.32% and a net margin of 4.43%. Macy’s’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. As a group, sell-side analysts predict that Macy’s will post 3.1 earnings per share for the current fiscal year.

In other news, Director Joyce M. Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total value of $243,000.00. Following the completion of the sale, the director now directly owns 13,647 shares in the company, valued at $331,622.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Deirdre P. Connelly sold 6,250 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $25.76, for a total value of $161,000.00. Following the completion of the sale, the director now owns 17,092 shares of the company’s stock, valued at $440,289.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,921 shares of company stock valued at $421,238. 0.55% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its position in Macy’s by 290.3% in the third quarter. TIAA CREF Investment Management LLC now owns 2,597,586 shares of the company’s stock worth $90,214,000 after purchasing an additional 1,932,030 shares during the period. Legal & General Group Plc increased its position in Macy’s by 6.0% in the third quarter. Legal & General Group Plc now owns 2,008,009 shares of the company’s stock worth $69,705,000 after purchasing an additional 113,351 shares during the period. Vanguard Group Inc increased its position in Macy’s by 6.5% in the third quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after purchasing an additional 2,133,597 shares during the period. Gateway Investment Advisers LLC increased its position in Macy’s by 16.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 51,925 shares of the company’s stock worth $1,546,000 after purchasing an additional 7,271 shares during the period. Finally, DNB Asset Management AS increased its position in Macy’s by 116.0% in the fourth quarter. DNB Asset Management AS now owns 76,338 shares of the company’s stock worth $2,273,000 after purchasing an additional 41,000 shares during the period. Institutional investors own 90.18% of the company’s stock.

Macy’s Company Profile

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.

Further Reading: Convertible Shares

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Analyst Recommendations for Macy`s (NYSE:M)

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