Macy’s (NYSE:M) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Macy’s (NYSE:M) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other analysts also recently commented on M. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research report on Tuesday, January 14th. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group decreased their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Macy’s currently has an average rating of “Hold” and an average target price of $17.75.

Macy’s Price Performance

Shares of NYSE M opened at $14.59 on Thursday. Macy’s has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 24.72 and a beta of 2.06. The company has a 50 day simple moving average of $15.91 and a two-hundred day simple moving average of $15.75.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that Macy’s will post 2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC acquired a new stake in Macy’s in the fourth quarter valued at approximately $34,000. Jones Financial Companies Lllp lifted its position in Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares in the last quarter. Quest Partners LLC purchased a new position in Macy’s in the third quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in Macy’s in the 4th quarter valued at approximately $38,000. Finally, Venturi Wealth Management LLC lifted its stake in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s 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.