Macy’s (NYSE:M) Raised to Buy at StockNews.com

Macy’s (NYSE:M) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

M has been the subject of a number of other reports. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a report on Tuesday. Morgan Stanley lowered their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.86.

Macy’s Trading Up 0.4 %

Shares of M traded up $0.07 during mid-day trading on Wednesday, reaching $15.96. The company’s stock had a trading volume of 4,356,804 shares, compared to its average volume of 6,321,000. The stock has a market cap of $4.43 billion, a PE ratio of 24.94 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s has a 52 week low of $14.06 and a 52 week high of $22.10. The company’s fifty day moving average price is $15.49 and its two-hundred day moving average price is $16.76.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Macy’s during the 1st quarter valued at $1,043,000. WINTON GROUP Ltd increased its position in Macy’s by 96.4% during the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the period. Royce & Associates LP increased its position in Macy’s by 5.2% during the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock valued at $22,280,000 after purchasing an additional 70,000 shares during the period. International Assets Investment Management LLC increased its position in Macy’s by 454.3% during the 3rd quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock valued at $1,751,000 after purchasing an additional 91,455 shares during the period. Finally, Alden Global Capital LLC increased its position in Macy’s by 56.1% during the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after purchasing an additional 218,146 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.