Macy’s (NYSE:M) Stock Rating Lowered by StockNews.com

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

A number of other analysts also recently issued reports on M. UBS Group reduced their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research report on Wednesday. Morgan Stanley dropped their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.38.

Macy’s Stock Performance

NYSE M traded up $0.43 on Friday, reaching $16.57. 7,829,204 shares of the stock were exchanged, compared to its average volume of 6,403,158. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. Macy’s has a one year low of $14.06 and a one year high of $22.10. The firm has a market capitalization of $4.60 billion, a PE ratio of 28.08 and a beta of 2.10. The company’s 50-day simple moving average is $15.79 and its two-hundred day simple moving average is $16.51.

Macy’s (NYSE:M) last issued its quarterly earnings results 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 business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. Analysts expect that Macy’s will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Macy’s

A number of large investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter valued at about $35,000. Venturi Wealth Management LLC grew its position in Macy’s by 282.7% during the 3rd 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 last quarter. Future Financial Wealth Managment LLC acquired a new position in Macy’s during the 3rd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC acquired a new position in Macy’s during the 2nd quarter valued at approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s in the second quarter worth $62,000. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.