The stock of Macy’s Inc (NYSE:M) is a huge mover today! About 11.44 million shares traded hands or 120.42% up from the average. Macy’s Inc (NYSE:M) has declined 3.28% since April 8, 2016 and is downtrending. It has underperformed by 8.92% the S&P500.
The move comes after 7 months positive chart setup for the $12.96 billion company. It was reported on Nov, 10 by Barchart.com. We have $57.63 PT which if reached, will make NYSE:M worth $5.05 billion more.
Macy’s Inc (NYSE:M) Ratings Coverage
Out of 27 analysts covering Macy’s Inc. (NYSE:M), 5 rate it a “Buy”, 1 “Sell”, while 21 “Hold”. This means 19% are positive. Macy’s Inc. has been the topic of 63 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by JP Morgan on Thursday, January 21. The rating was maintained by Barclays Capital on Wednesday, February 24 with “Underweight”. The rating was upgraded by Northcoast on Thursday, November 12 to “Buy”. The stock of Macy’s Inc (NYSE:M) has “Market Perform” rating given on Thursday, May 12 by Telsey Advisory Group. FBR Capital maintained Macy’s Inc (NYSE:M) on Wednesday, January 20 with “Mkt Perform” rating. RBC Capital Markets maintained it with “Sector Perform” rating and $35 target price in Thursday, May 12 report. The firm has “Buy” rating by Deutsche Bank given on Friday, October 9. As per Friday, August 12, the company rating was maintained by Goldman Sachs. Telsey Advisory Group maintained the stock with “Market Perform” rating in Friday, August 12 report. The stock of Macy’s Inc (NYSE:M) earned “Neutral” rating by Northland Capital on Thursday, May 12.
According to Zacks Investment Research, “Macy’s is one of the nation’s premier retailers, operating about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Prior to June 1, 2007, Macy’s was known as Federated Department Stores.”
More notable recent Macy’s Inc (NYSE:M) news were published by: Businesswire.com which released: “Macy’s, Inc. Forms Strategic Alliance with Brookfield Asset Management to …” on November 10, 2016, also Fool.com with their article: “1 Big Difference Between Sears and Macy’s, Inc.” published on November 06, 2016, Valuewalk.com published: “Macy’s Inc Misses On Earnings, Sodastream International Ltd Soars On Earnings” on November 10, 2016. More interesting news about Macy’s Inc (NYSE:M) were released by: Nasdaq.com and their article: “Earnings Reaction History: Macy’s Inc., 72.7% Follow-Through Indicator, 7.1 …” published on November 10, 2016 as well as Finance.Yahoo.com‘s news article titled: “Macy’s, Inc. Board Declares Quarterly Dividend” with publication date: October 28, 2016.
M Company Profile
Macy’s, Inc., incorporated on December 13, 1985, is an omnichannel retail firm operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Firm sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods. The Company’s subsidiaries provide various support functions to its retail operations. The Company’s bank subsidiary, FDS Bank, provides credit processing, certain collections, customer service and credit marketing services in respect of various credit card accounts that are owned either by Department Stores National Bank (DSNB), a subsidiary of Citibank N.A., or FDS Bank and that constitutes a part of the credit programs of the Company’s retail operations. Macy’s Systems and Technology, Inc. (MST), a subsidiary of the Company, provides operational electronic data processing and management information services to all of the Company’s operations.
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