2 weeks Ago By ABMN Staff
Macy’s ( NYSE:M – Get Free Report ) had its price objective lowered by Citigroup from $14.00 to $11.00 in a report released on Thursday, Benzinga reports.
The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential downside of 1.12% from the company’s current price.
A number of other research firms have also commented on M. The Goldman Sachs Group dropped their price objective on Macy’s from $19.00 to $17.
00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. UBS Group reduced their price objective on Macy’s from $9.
00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th. Morgan Stanley set a $14.
00 target price on shares of Macy’s in a research report on Monday, March 10th. Finally, StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th.
One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.90.
Read Our Latest Report on Macy’s Macy’s Trading Up 1.0 % Macy’s ( NYSE:M – Get Free Report ) last posted its earnings results on Thursday, March 6th. The company reported $1.
80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25.
The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion.
Macy’s had a net margin of 0.73% and a return on equity of 21.99%.
Equities analysts predict that Macy’s will post 2.39 EPS for the current year. Insider Activity In other news, EVP Tracy M.
Preston sold 2,780 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.
40. Following the transaction, the executive vice president now directly owns 4,723 shares of the company’s stock, valued at $59,887.64.
The trade was a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website .
Also, CEO Antony Spring sold 20,868 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.
24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company’s stock, valued at $4,073,373.92.
This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
In the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company’s stock.
Institutional Trading of Macy’s Several large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Macy’s in the third quarter valued at about $594,000. HB Wealth Management LLC raised its stake in shares of Macy’s by 724.
1% in the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after acquiring an additional 91,015 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Macy’s by 57.
9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after purchasing an additional 286,879 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Macy’s by 1,076.
9% during the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company’s stock valued at $3,027,000 after purchasing an additional 163,587 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Macy’s by 155.
8% during the fourth quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company’s stock valued at $1,381,000 after purchasing an additional 49,715 shares during the last quarter. Institutional investors own 87.
36% of the company’s stock. About Macy’s ( Get Free Report ) Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury.
It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products. Recommended Stories Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter .
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