Macy's (NYSE:M) Stock Rating Lowered by JPMorgan Chase & Co.

Macy's (NYSE:M - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $14.00 price target on the stock, down from their previous price target of $19.00. JPMorgan Chase & Co.'s target price indicates a potential downside of 1.38% from the company's current price.

M has been the topic of several other research reports. Telsey Advisory Group restated a "market perform" rating and set a $17.00 price target on shares of Macy's in a research report on Thursday. Morgan Stanley dropped their target price on Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 12th. Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. Finally, Benchmark upgraded Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Macy's presently has an average rating of "Hold" and a consensus price target of $15.56.

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Macy's Stock Performance

Shares of NYSE:M traded up $0.14 during midday trading on Thursday, reaching $14.20. The company's stock had a trading volume of 4,501,842 shares, compared to its average volume of 7,077,917. The firm has a market capitalization of $3.94 billion, a PE ratio of 23.96 and a beta of 2.07. The stock has a fifty day moving average of $15.03 and a 200 day moving average of $15.46. Macy's has a twelve month low of $12.60 and a twelve month high of $22.10. 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 results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. On average, equities analysts expect that Macy's will post 2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy's during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp increased its stake 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 acquiring an additional 969 shares during the last quarter. Quest Partners LLC purchased a new stake in Macy's in the third quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in Macy's during the fourth quarter worth about $38,000. Finally, Venturi Wealth Management LLC boosted its position in shares of 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 period. 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.