Macy’s (NYSE:M) Cut to Hold at StockNews.com

Macy’s (NYSE:M) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

M has been the topic of a number of other research reports. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a report on Wednesday. UBS Group reduced their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday. Morgan Stanley dropped their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.38.

Macy’s Stock Performance

Shares of NYSE:M traded up $0.43 during midday trading on Friday, reaching $16.57. The company’s stock had a trading volume of 7,829,204 shares, compared to its average volume of 6,403,158. The firm has a market capitalization of $4.60 billion, a PE ratio of 28.08 and a beta of 2.10. The stock has a fifty day moving average of $15.79 and a 200 day moving average of $16.51. Macy’s has a twelve month low of $14.06 and a twelve month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts expect that Macy’s will post 2.38 EPS for the current fiscal year.

Institutional Trading of Macy’s

Hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Macy’s in the 3rd quarter worth $35,000. Venturi Wealth Management LLC grew its holdings in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the third quarter worth about $39,000. Abich Financial Wealth Management LLC purchased a new position in Macy’s during the second quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Macy’s in the 2nd quarter valued at about $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.