Macy's Takes Off In First Quarter, Profits Soar

Thursday, 17 May, 2018

The stock presently has an average rating of "Hold" and a consensus target price of $26.49.

Shares of NYSE:M traded up $0.15 during trading on Friday, reaching $29.79. The company traded as low as $31.70 and last traded at $31.67, with a volume of 4139089 shares changing hands.

The stock has a market cap of $9,296.40, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.99 and a beta of 0.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.45 and a current ratio of 1.47. Jefferies Group reiterated a "hold" rating on shares of Macy's in a report on Tuesday, February 27th.

For the period ended May 5, Macy's Inc. earned $139 million, or 45 cents per share.

Macy's Inc's revenue for the first quarter of 2018 was $5.54 billion. Macy's had a return on equity of 24.93% and a net margin of 6.23%.

Net sales in the first quarter totaled $5.541 billion at Macy's, an increase of 3.6 percent, compared with sales of $5.350 billion in the same quarter a year ago.

In other news, Director Deirdre P. Connelly sold 9,092 shares of Macy's stock in a transaction dated Thursday, March 8th. "We're getting better sell-throughs and we're getting better value on it". Following the sale, the director now directly owns 16,184 shares of the company's stock, valued at approximately $473,382. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Karen M. Hoguet sold 67,515 shares of the business's stock in a transaction dated Thursday, March 1st. The stock was purchased at an average cost of $29.10 per share, for a total transaction of $291,000.00. Following the sale, the executive vice president now owns 10,000 shares of the company's stock, valued at $294,200.

Under Jeff Gennette, Macy's CEO of 14 months, the company emphasized what he has called Macy's "fashion authority", promoting the use of personal stylists in stores and focusing more on products in promotional materials and less on what percentage off the sales prices is being offered.

Several hedge funds have recently added to or reduced their stakes in the stock.

Global X Management Co.

During the quarter, Macy's noted that comparable sales on an owned basis were up 3.9% compared to the first quarter of 2017. Same sales on an owned plus licensed basis are expected to increase between 1 and 2 percent.

And this timing shift likely means second-quarter results are going to look relatively weak compared to a year earlier. Bank of New York Mellon Corp now owns 10,653,773 shares of the company's stock worth $268,367,000 after acquiring an additional 2,328,072 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Macy's by 22.6% during the fourth quarter. Advisory Services Network LLC now owns 14,696 shares of the company's stock valued at $370,000 after buying an additional 2,253 shares during the period. While there's no doubt that Macy's has had its struggles in the past, the company is beating expectations now, and now is what investors care about.

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. It sells a wide range of items, such as accessories and apparel for women, men, and kids; home furnishings; cosmetics; and other accessories.