Macy's (NYSE:M) Price Target Lowered to $14.00 at Citigroup

Macy's (NYSE:M - Get Free Report) had its target price lowered by stock analysts at Citigroup from $16.00 to $14.00 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price target would indicate a potential upside of 2.67% from the stock's previous close.

Several other equities analysts have also recently commented on M. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Benchmark raised Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. UBS Group decreased their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday. Finally, StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.56.

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Macy's Stock Down 3.1 %

Shares of M stock traded down $0.43 during trading hours on Friday, reaching $13.64. The company had a trading volume of 4,040,231 shares, compared to its average volume of 7,128,437. The company has a market capitalization of $3.79 billion, a P/E ratio of 23.08 and a beta of 2.07. 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 has a twelve month low of $12.60 and a twelve month high of $22.10. The stock's fifty day simple moving average is $14.97 and its 200 day simple moving average is $15.45.

Macy's (NYSE:M - Get Free Report) last released 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 business had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. As a group, sell-side analysts expect that Macy's will post 2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Macy's

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC bought a new stake in shares of Macy's during the 4th quarter valued at about $34,000. Quest Partners LLC purchased a new stake in shares of Macy's in the third quarter worth approximately $35,000. Venturi Wealth Management LLC lifted its stake in Macy's by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Macy's by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Macy's during the fourth quarter worth $38,000. Institutional investors and hedge funds own 87.36% of the company's stock.

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.