Macy’s (NYSE:M) Cut to Accumulate at Gordon Haskett

Macy’s (NYSE:M) was downgraded by equities research analysts at Gordon Haskett from a “buy” rating to an “accumulate” rating in a report issued on Thursday,Briefing.com Automated Import reports.

A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley lowered their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Tuesday, January 14th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average target price of $17.75.

Macy’s Trading Up 0.9 %

NYSE:M opened at $14.80 on Thursday. The firm has a market capitalization of $4.11 billion, a P/E ratio of 25.08 and a beta of 2.05. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $15.74 and a 200 day moving average of $15.68. Macy’s has a 52 week low of $13.66 and a 52 week high of $22.10.

Macy’s (NYSE:M) last posted its earnings results 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). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts predict that Macy’s will post 2.39 earnings per share for the current year.

Institutional Investors Weigh In On Macy’s

A number of hedge funds have recently added to or reduced their stakes in M. Norges Bank purchased a new position in shares of Macy’s in the fourth quarter worth approximately $96,689,000. American Century Companies Inc. boosted its position in shares of Macy’s by 12.2% in the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after purchasing an additional 774,693 shares during the period. Barington Capital Group L.P. raised its position in shares of Macy’s by 550.0% during the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock valued at $10,198,000 after purchasing an additional 550,000 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Macy’s by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock valued at $56,116,000 after buying an additional 419,261 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Macy’s by 13.3% in the 4th quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock worth $59,461,000 after buying an additional 411,412 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.