In a report released today, Oliver Chen from TD Cowen maintained a Hold rating on Macy’s (M – Research Report), with a price target of $20.00. The company’s shares closed yesterday at $19.85.
According to TipRanks, Chen is a 4-star analyst with an average return of 5.4% and a 52.61% success rate. Chen covers the Consumer Cyclical sector, focusing on stocks such as Nordstrom, Coty, and Levi Strauss & Co.
In addition to TD Cowen, Macy’s also received a Hold from Morgan Stanley’s Alexandra Straton in a report issued today. However, yesterday, J.P. Morgan maintained a Buy rating on Macy’s (NYSE: M).
M market cap is currently $5.44B and has a P/E ratio of 50.56.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of M in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Macy’s (M) Company Description:
Macy’s, Inc. engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. Its 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. The company was founded by Rowland Hussey Macy Sr. on March 6, 1929 and is headquartered in Cincinnati, OH.
