Date of Award
Winter 3-31-2019
Document Type
Project (696 or 796 registration)
Degree Name
Master of Science in Accounting & Finance
Department
Graduate Studies
Committee Chair
Eduardo Pablo
Keywords
Recommendations, insider trading, Penney, shareholder analysis, environment
Abstract
Macy’s, Inc. is recognized as one of the nation’s leading Omni channel retailers that operates department stores, websites and mobile applications to sell finished goods. It is the parent company of Macy’s, Bloomingdale’s, and Bluemercury.
In this report, I have examined the past five years and current year’s financial statements – balance sheet, income statements and cash flow statements. A completed ratio analysis has been conducted with these data. Further, I used a discounted cash flow model to forecast future free cash flows. With my projections and valuations, the model estimates Macy’s stock price at USD 45.79 per share almost double from its current value that is at USD 24.03 as of 3/31/2019. Due to this huge discrepancy I have further conducted a relative valuation and also reviewed the insiders trading to get more clarification. This report also includes many qualitative data for Macy’s that would support my result.
The main objectives of conducting this financial analysis and valuation is to provide a recommendation whether to buy Macy’s stock or not.
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Recommended Citation
Swenson, Emma, "Financial Analysis on Macy's, Inc." (2019). Dissertations, Theses, and Projects. 212.
https://red.mnstate.edu/thesis/212