Macy's (NYSE:M) Rating Lowered to Accumulate at Gordon Haskett

Gordon Haskett cut shares of Macy's (NYSE:M - Free Report) from a buy rating to an accumulate rating in a research note issued to investors on Thursday, Marketbeat reports.

A number of other brokerages also recently commented on M. StockNews.com downgraded Macy's from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. Benchmark upgraded shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. Telsey Advisory Group reissued 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, JPMorgan Chase & Co. cut their price objective on Macy's from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Macy's presently has a consensus rating of "Hold" and an average target price of $17.75.

Macy's Trading Down 0.5 %

Shares of NYSE M traded down $0.08 during midday trading on Thursday, reaching $15.04. The company had a trading volume of 4,202,804 shares, compared to its average volume of 6,910,509. The stock has a market cap of $4.17 billion, a PE ratio of 25.48 and a beta of 2.05. Macy's has a one year low of $13.66 and a one year high of $22.10. The firm's fifty day moving average price is $15.69 and its 200-day moving average price is $15.64. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, equities research analysts anticipate that Macy's will post 2.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Macy's by 29.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,840 shares of the company's stock worth $1,995,000 after acquiring an additional 27,156 shares in the last quarter. Invenomic Capital Management LP boosted its stake in Macy's by 13.1% in the 4th quarter. Invenomic Capital Management LP now owns 900,040 shares of the company's stock worth $15,238,000 after purchasing an additional 104,353 shares in the last quarter. Junto Capital Management LP purchased a new stake in Macy's during the 4th quarter valued at about $48,775,000. Fund 1 Investments LLC bought a new stake in Macy's during the 4th quarter valued at about $6,401,000. Finally, Clearline Capital LP purchased a new position in Macy's in the fourth quarter worth about $4,284,000. Institutional investors 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.