Macy’s (NYSE:M) Cut to “Hold” at StockNews.com

Macy’s (NYSE:M) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also commented on the stock. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, December 16th. UBS Group reduced their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Morgan Stanley lowered their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.56.

Macy’s Price Performance

Shares of M stock opened at $16.82 on Thursday. The firm has a fifty day moving average of $15.93 and a two-hundred day moving average of $16.34. The firm has a market cap of $4.67 billion, a P/E ratio of 28.51 and a beta of 2.11. Macy’s has a 1-year low of $14.06 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 0.34.

Macy’s (NYSE:M) last issued 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 firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, research analysts anticipate that Macy’s will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently modified their holdings of M. Retirement Systems of Alabama grew its holdings in Macy’s by 57.9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after purchasing an additional 286,879 shares during the last quarter. PVG Asset Management Corp acquired a new position in Macy’s in the 3rd quarter valued at $730,000. Wilmington Savings Fund Society FSB bought a new position in Macy’s in the 3rd quarter worth $221,000. Virtu Financial LLC acquired a new position in Macy’s during the 3rd quarter worth $594,000. Finally, Geode Capital Management LLC boosted its holdings in Macy’s by 2.6% during the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock valued at $79,110,000 after acquiring an additional 128,258 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.