Telsey Advisory Group Reiterates Market Perform Rating for Macy’s (NYSE:M)

Macy’s (NYSE:M)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $20.00 price target on the stock. Telsey Advisory Group’s price target points to a potential upside of 9.25% from the stock’s current price.

A number of other equities research analysts also recently weighed in on M. UBS Group raised their target price on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a report on Monday, March 9th. Guggenheim began coverage on Macy’s in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. decreased their target price on Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. TD Cowen lowered their target price on Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Finally, Evercore raised their price target on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $18.90.

Macy’s Price Performance

M stock opened at $18.31 on Wednesday. The company’s 50-day moving average price is $19.76 and its two-hundred day moving average price is $20.17. The firm has a market cap of $4.83 billion, a P/E ratio of 7.95 and a beta of 1.51. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. Macy’s has a 12 month low of $9.76 and a 12 month high of $24.41.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 EPS. On average, analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Strengthening Families & Communities LLC acquired a new position in shares of Macy’s in the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in Macy’s during the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of Macy’s in the 3rd quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its position in shares of Macy’s by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Macy’s by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after purchasing an additional 592 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.