Macy’s (NYSE:M) Stock Rating Lowered by JPMorgan Chase & Co.

Macy’s (NYSE:M) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a $14.00 target price on the stock, down from their prior target price of $19.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 0.67% from the stock’s current price.

Other research analysts also recently issued reports about the stock. UBS Group dropped their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Thursday. Finally, Gordon Haskett downgraded shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.00.

Macy’s Stock Performance

Shares of M opened at $14.10 on Thursday. The firm’s 50 day moving average is $15.10 and its 200-day moving average is $15.50. The stock has a market capitalization of $3.91 billion, a P/E ratio of 23.89 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s has a 12-month low of $12.60 and a 12-month high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Equities research analysts anticipate that Macy’s will post 2.39 EPS for the current fiscal year.

Institutional Trading of Macy’s

A number of institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Macy’s in the fourth quarter valued at approximately $2,591,000. Forum Financial Management LP acquired a new stake in shares of Macy’s in the fourth quarter worth $177,000. Vise Technologies Inc. lifted its stake in shares of Macy’s by 37.2% in the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock worth $392,000 after buying an additional 6,266 shares during the last quarter. MidWestOne Financial Group Inc. lifted its stake in shares of Macy’s by 14.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock worth $2,296,000 after buying an additional 17,167 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Macy’s by 13.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,349 shares of the company’s stock worth $17,952,000 after buying an additional 122,749 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.