Wall Street Zen Upgrades Macy’s (NYSE:M) to “Buy”

Macy’s (NYSE:M) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

M has been the topic of several other research reports. JPMorgan Chase & Co. dropped their price target on Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. TD Cowen dropped their price target on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. UBS Group boosted their price target on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, March 9th. Zacks Research upgraded Macy’s from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $22.00 price target on shares of Macy’s in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Macy’s has a consensus rating of “Reduce” and a consensus target price of $18.90.

Macy’s Stock Down 0.0%

M opened at $19.53 on Friday. The business’s 50-day simple moving average is $19.19 and its 200-day simple moving average is $20.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. Macy’s has a one year low of $10.54 and a one year high of $24.41. The stock has a market capitalization of $5.15 billion, a P/E ratio of 8.42 and a beta of 1.51.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.48 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that Macy’s will post 2.39 EPS for the current year.

Insiders Place Their Bets

In other Macy’s news, CEO Olivier Bron sold 7,228 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $129,525.76. Following the transaction, the chief executive officer owned 21,590 shares in the company, valued at approximately $386,892.80. The trade was a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $179,379.20. Following the transaction, the executive vice president owned 108,008 shares in the company, valued at $1,935,503.36. The trade was a 8.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 94,967 shares of company stock worth $1,705,276. Company insiders own 1.05% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in M. Strengthening Families & Communities LLC acquired a new position in Macy’s during the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in Macy’s during the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new position in Macy’s during the 3rd quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its position in Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the period. Finally, Bessemer Group Inc. increased its position in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after purchasing an additional 592 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.