The Goldman Sachs Group Issues Pessimistic Forecast for Macy’s (NYSE:M) Stock Price

Macy’s (NYSE:M) had its target price reduced by investment analysts at The Goldman Sachs Group from $19.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 20.61% from the stock’s current price.

Several other equities research analysts have also commented on the company. Guggenheim restated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. UBS Group dropped their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday. Benchmark upgraded Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Thursday. Finally, Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.00.

Macy’s Stock Performance

NYSE M opened at $14.10 on Friday. The company has a market capitalization of $3.91 billion, a PE ratio of 23.89 and a beta of 2.07. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $15.03 and its 200 day moving average price is $15.46. Macy’s has a twelve month low of $12.60 and a twelve month high of $22.10.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of M. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Macy’s during the 4th quarter worth approximately $2,591,000. Forum Financial Management LP bought a new position in Macy’s during the 4th quarter worth approximately $177,000. Vise Technologies Inc. lifted its holdings in Macy’s by 37.2% during the 4th 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 holdings in Macy’s by 14.5% during the 4th 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 holdings in Macy’s by 13.1% during the 4th 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. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.