Macy's (NYSE:M) Rating Lowered to "Hold" at StockNews.com

StockNews.com cut shares of Macy's (NYSE:M - Free Report) from a buy rating to a hold rating in a report issued on Thursday.

M has been the topic of a number of other research reports. Benchmark raised Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. Argus upgraded shares of Macy's to a "hold" rating in a report on Thursday, October 10th. UBS Group decreased their price objective on shares of Macy's from $10.00 to $9.00 and set a "sell" rating for the company in a research note on Thursday, December 12th. Telsey Advisory Group reissued a "market perform" rating and set a $17.00 target price on shares of Macy's in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.75.

Macy's Price Performance

NYSE:M traded up $0.26 during mid-day trading on Thursday, reaching $14.53. 4,734,859 shares of the stock were exchanged, compared to its average volume of 6,961,796. Macy's has a 1-year low of $13.66 and a 1-year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $4.03 billion, a PE ratio of 24.62 and a beta of 2.05. The business has a fifty day moving average price of $15.87 and a 200 day moving average price of $15.72.

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

Institutional Investors Weigh In On Macy's

Large investors have recently bought and sold shares of the business. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy's in the fourth quarter worth $34,000. Quest Partners LLC bought a new position in Macy's in the 3rd quarter worth $35,000. Venturi Wealth Management LLC lifted 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 acquiring an additional 1,685 shares during 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 valued at $36,000 after acquiring an additional 969 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Macy's in the fourth quarter valued at about $38,000. 87.36% of the stock is currently owned by institutional investors.

Macy's Company Profile

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.