Advisor Partners LLC Acquires New Holdings in Macy's Inc. (NYSE:M)

Galtero Lara
May 16, 2018

Three analysts have provided estimates for Macy's' earnings, with the lowest sales estimate coming in at $5.34 billion and the highest estimate coming in at $5.53 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. research analysts predict that Macy's Inc. will post 3.64 EPS for the current year.

Macy's (NYSE:M) last announced its earnings results on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Macy's had a net margin of 6.23% and a return on equity of 24.93%. The company had revenue of $8.67 billion during the quarter, compared to analysts' expectations of $8.70 billion. During the same quarter previous year, the company earned $2.02 EPS.

During the quarter, Macy's noted that comparable sales on an owned basis were up 3.9% compared to the first quarter of 2017. Zacks Investment Research raised Macy's from a "hold" rating to a "buy" rating and set a $28.00 target price for the company in a research report on Wednesday, January 10th. OTR Global upgraded shares of Macy's to a "positive" rating in a research note on Friday, May 4th. Finally, Morgan Stanley boosted their price target on shares of Macy's from $23.00 to $27.00 and gave the stock an equal weight rating in a research note on Wednesday, February 28th.

A number of analysts have commented on the stock. The company has an average rating of Hold and a consensus price target of $26.49.

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In related news, CFO Karen M. Hoguet sold 67,515 shares of Macy's stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Comparable sales growth on owned basis is forecast to be +0.3% during the quarter, while comparable sales on owned plus licensed basis is seen rising +1.0%. Also, Chairman Jeffrey Gennette purchased 10,000 shares of the firm's stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the purchase, the chairman now owns 89,303 shares of the company's stock, valued at approximately $2,598,717.30. The disclosure for this purchase can be found here. Insiders have sold a total of 107,392 shares of company stock valued at $3,173,164 over the last ninety days. Insiders own 2.36% of the company's stock.

SG Americas Securities LLC lessened its stake in shares of Macy's Inc. Following the completion of the sale, the chief financial officer now owns 67,515 shares of the company's stock, valued at $1,984,265.85. Bank of New York Mellon Corp lifted its stake in Macy's by 28.0% during the fourth quarter. Excluding asset sale gains in the quarter, the company would have earned 42 cents per share which is up from 12 cents earned in the same quarter a year ago.

Shares of M stock traded up $0.36 on Tuesday, hitting $29.99. Following the sale, the director now directly owns 54,834 shares of the company's stock, valued at $1,661,470.20. Kistler Tiffany Companies LLC now owns 8,900 shares of the company's stock worth $224,000 after purchasing an additional 2,120 shares during the period. Finally, QV Investors Inc. bought a new position in shares of Macy's in the 4th quarter worth $45,737,000. The company has a current ratio of 1.47, a quick ratio of 0.45 and a debt-to-equity ratio of 1.04. Macy's Inc. has a twelve month low of $31.77 and a twelve month high of $33.75. The company has a market cap of $9.03 billion, a P/E ratio of 8.00, a P/E/G ratio of 0.96 and a beta of 0.73.

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