Macy’s, Inc. (NYSE:M) Given Average Recommendation of “Hold” by Brokerages

Shares of Macy’s, Inc. (NYSE:M) have been given an average recommendation of “Hold” by the eleven analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $17.78.

M has been the topic of several recent analyst reports. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. UBS Group decreased their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Tuesday, January 14th.

Hedge Funds Weigh In On Macy’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barington Capital Group L.P. increased its position in Macy’s by 550.0% in the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock valued at $10,198,000 after acquiring an additional 550,000 shares during the period. Lind Value II ApS acquired a new position in Macy’s in the 4th quarter valued at approximately $6,733,000. Retirement Systems of Alabama increased its position in Macy’s by 57.9% in the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after acquiring an additional 286,879 shares during the period. FMR LLC increased its position in Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares during the period. Finally, Invenomic Capital Management LP increased its position in Macy’s by 32.3% in the 3rd quarter. Invenomic Capital Management LP now owns 795,687 shares of the company’s stock valued at $12,484,000 after acquiring an additional 194,443 shares during the period. Institutional investors own 87.36% of the company’s stock.

Macy’s Trading Down 0.5 %

Shares of NYSE:M opened at $15.29 on Tuesday. The company’s 50-day moving average price is $15.96 and its two-hundred day moving average price is $15.83. 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 one year low of $13.66 and a one year high of $22.10. The stock has a market capitalization of $4.24 billion, a PE ratio of 25.91 and a beta of 2.07.

Macy’s (NYSE:M) last issued its quarterly 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 return on equity of 21.99% and a net margin of 0.73%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts forecast that Macy’s will post 2.39 EPS for the current fiscal year.

About Macy’s

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.