Macy’s Inc. [NYSE: M] loss -0.18% or -0.04 points to close at $22.66 with a heavy trading volume of 10495341 shares. The company report on March 2, 2023 that Macy’s, Inc. Reports Fourth Quarter and Full-Year 2022 Results.
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Q4 2022 comparable sales down 3.3% on an owned basis and down 2.7% on an owned-plus-licensed basis; FY 2022 comparable sales up 0.3% on an owned basis and up 0.6% on an owned-plus-licensed basis.
Inventory levels down 3% versus 2021 and down 18% versus 2019, reflecting disciplined controls.
It opened the trading session at $22.93, the shares rose to $23.02 and dropped to $22.57, the range by which the price of stock traded the whole day. The daily chart for M points out that the company has recorded 30.83% gains over the past six months. However, it is still -50.07% lower than its most recent low trading price.
If we look at the average trading volume of 8.99M shares, M reached to a volume of 10495341 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Macy’s Inc. [M]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for M shares is $24.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on M stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Macy’s Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 30, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on January 10, 2023, representing the official price target for Macy’s Inc. stock. Previously, the target price had yet another raise from $20 to $22, while Morgan Stanley kept a Equal-Weight rating on M stock.
The Average True Range (ATR) for Macy’s Inc. is set at 0.90, with the Price to Sales ratio for M stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 1.77, with the Price to Cash per share for the same quarter was set at 1.20. Price to Free Cash Flow for M in the course of the last twelve months was 4.80 with Quick ratio for the last quarter at 0.10.
Trading performance analysis for M stock
Macy’s Inc. [M] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.16. With this latest performance, M shares dropped by -5.70% in over the last four-week period, additionally plugging by 30.83% over the last 6 months – not to mention a drop of -13.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for M stock in for the last two-week period is set at 56.58, with the RSI for the last a single of trading hit 62.76, and the three-weeks RSI is set at 54.28 for Macy’s Inc. [M]. The present Moving Average for the last 50 days of trading for this stock 22.02, while it was recorded at 21.33 for the last single week of trading, and 20.08 for the last 200 days.
Macy’s Inc. [M]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Macy’s Inc. [M] shares currently have an operating margin of +6.65 and a Gross Margin at +39.51. Macy’s Inc.’s Net Margin is presently recorded at +4.65.
Return on Equity for this stock inclined to 30.56, with Return on Assets sitting at 6.59.
Macy’s Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 1.10.
Macy’s Inc. [M]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for M. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Macy’s Inc. go to -7.75%.
An analysis of insider ownership at Macy’s Inc. [M]
There are presently around $5,041 million, or 83.60% of M stock, in the hands of institutional investors. The top three institutional holders of M stocks are: VANGUARD GROUP INC with ownership of 29,341,860, which is approximately 7.389% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 26,178,291 shares of the stock with an approximate value of $593.2 million in M stocks shares; and ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, currently with $239.64 million in M stock with ownership of nearly 0.041% of the company’s market capitalization.
Positions in Macy’s Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 256 institutional holders increased their position in Macy’s Inc. [NYSE:M] by around 33,252,014 shares. Additionally, 177 investors decreased positions by around 30,531,759 shares, while 49 investors held positions by with 158,685,008 shares. The mentioned changes placed institutional holdings at 222,468,781 shares, according to the latest SEC report filing. M stock had 86 new institutional investments in for a total of 7,521,239 shares, while 41 institutional investors sold positions of 2,765,062 shares during the same period.