JPMorgan Chase & Co. Issues Pessimistic Forecast for Macy’s (NYSE:M) Stock Price

Macy’s (NYSE:M) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 24.77% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. UBS Group decreased their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research report on Wednesday, December 11th. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Finally, Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.78.

Macy’s Stock Down 2.0 %

Shares of NYSE M opened at $16.03 on Wednesday. Macy’s has a 52-week low of $14.06 and a 52-week high of $22.10. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 27.17 and a beta of 2.07. The stock has a 50 day moving average price of $16.18 and a 200 day moving average price of $16.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26.

Macy’s (NYSE:M) last released its quarterly earnings data 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). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. Sell-side analysts expect that Macy’s will post 2.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Macy’s by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after buying an additional 118,626 shares in the last quarter. FMR LLC grew its holdings in shares of Macy’s by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Virtu Financial LLC acquired a new position in Macy’s during the third quarter worth approximately $594,000. Alerus Financial NA purchased a new stake in Macy’s in the 3rd quarter valued at $2,144,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Macy’s by 57.9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after buying an additional 286,879 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

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.