Macy's (NYSE:M) Cut to Neutral at The Goldman Sachs Group

Macy's (NYSE:M - Get Free Report) was downgraded by analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a research report issued on Tuesday,Finviz reports. They presently have a $12.00 price target on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 11.32% from the stock's current price.

M has been the topic of a number of other reports. Cowen reiterated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Morgan Stanley set a $14.00 target price on shares of Macy's in a research note on Monday, March 10th. Gordon Haskett lowered shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, StockNews.com raised 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, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.40.

Macy's Stock Down 3.1 %

Shares of Macy's stock opened at $10.78 on Tuesday. The firm has a market cap of $3.00 billion, a P/E ratio of 18.27 and a beta of 1.73. The business has a 50-day moving average price of $13.11 and a 200 day moving average price of $14.80. 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 has a fifty-two week low of $9.76 and a fifty-two week high of $20.70.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. On average, sell-side analysts forecast that Macy's will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Adrian V. Mitchell sold 5,122 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the sale, the executive vice president now directly owns 130,491 shares of the company's stock, valued at $1,666,370.07. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares in the company, valued at approximately $59,887.64. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 in the last ninety days. 2.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Macy's

Several large investors have recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy's during the fourth quarter worth approximately $34,000. Jones Financial Companies Lllp lifted 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 worth $36,000 after buying an additional 969 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Macy's during the 4th quarter valued at $38,000. Bessemer Group Inc. grew its holdings in shares of Macy's by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock valued at $58,000 after acquiring an additional 2,839 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Macy's during the 4th quarter valued at $102,000. 87.36% of the stock is owned by institutional investors and hedge funds.

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.

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