Macy’s (NYSE:M) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Macy’s (NYSE:M) in a report released on Thursday,Benzinga reports. Telsey Advisory Group currently has a $17.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. UBS Group cut their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Finally, Morgan Stanley decreased their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Macy’s has an average rating of “Hold” and a consensus price target of $17.75.

Macy’s Stock Down 2.8 %

Shares of M opened at $14.11 on Thursday. Macy’s has a 1 year low of $13.66 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a 50 day simple moving average of $15.42 and a two-hundred day simple moving average of $15.60. The firm has a market cap of $3.92 billion, a P/E ratio of 23.91 and a beta of 2.05.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Trifecta Capital Advisors LLC purchased a new position in Macy’s during the 4th quarter valued at about $34,000. Quest Partners LLC purchased a new position in shares of Macy’s during the third quarter valued at approximately $35,000. Venturi Wealth Management LLC boosted its position in shares of Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Macy’s in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.