Telsey Advisory Group Reaffirms "Market Perform" Rating for Macy's (NYSE:M)

Macy's (NYSE:M - Get Free Report)'s stock had its "market perform" rating reiterated by equities researchers at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. Telsey Advisory Group's price target would indicate a potential upside of 32.10% from the stock's current price.

Several other equities analysts have also recently weighed in on M. UBS Group lowered their price target on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Guggenheim reissued a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. New Street Research set a $13.00 price target on Macy's in a research note on Thursday, March 6th. Cowen reaffirmed a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Finally, Morgan Stanley set a $14.00 price objective on shares of Macy's in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Macy's has an average rating of "Hold" and an average target price of $15.30.

Macy's Stock Performance

NYSE M traded down $0.06 during trading hours on Wednesday, hitting $11.36. The company's stock had a trading volume of 14,090,949 shares, compared to its average volume of 6,112,047. Macy's has a 12 month low of $10.78 and a 12 month high of $20.70. The company's 50 day simple moving average is $14.15 and its two-hundred day simple moving average is $15.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The company has a market cap of $3.15 billion, a P/E ratio of 19.25 and a beta of 2.07.

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Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, sell-side analysts expect that Macy's will post 2.39 EPS for the current fiscal year.

Insider Activity

In related news, CEO Antony Spring sold 3,124 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy M. Preston sold 2,780 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 in the last three months. Company insiders own 2.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in M. FMR LLC grew its holdings in shares of Macy's by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company's stock valued at $73,611,000 after purchasing an additional 195,880 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Macy's by 8.4% during the third quarter. BNP Paribas Financial Markets now owns 362,508 shares of the company's stock valued at $5,688,000 after purchasing an additional 27,985 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Macy's by 8.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,751 shares of the company's stock worth $1,000,000 after buying an additional 4,783 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Macy's in the 3rd quarter worth about $168,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Macy's in the 3rd quarter worth about $3,032,000. Institutional investors own 87.36% of the company's stock.

About Macy's

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.