StockNews.com Downgrades Macy’s (NYSE:M) to Hold

Macy’s (NYSE:M) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other analysts have also issued reports on M. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group cut 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 note on Thursday, December 12th. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.75.

Macy’s Stock Performance

Shares of NYSE:M opened at $14.27 on Thursday. The company has a market cap of $3.96 billion, a P/E ratio of 24.18 and a beta of 2.06. Macy’s has a one year low of $13.66 and a one year high of $22.10. The business’s 50-day simple moving average is $15.87 and its 200 day simple moving average is $15.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. On average, sell-side analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macy’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new position in Macy’s during the 4th quarter worth $34,000. Quest Partners LLC bought a new stake in shares of Macy’s during the third quarter valued at about $35,000. Venturi Wealth Management LLC lifted its holdings in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares during the period. Jones Financial Companies Lllp grew its position in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after buying an additional 969 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Macy’s during the 4th quarter valued at about $38,000. Institutional investors and hedge funds 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.