Macy’s (NYSE:M) Cut to Accumulate at Gordon Haskett

Gordon Haskett downgraded shares of Macy’s (NYSE:M) from a buy rating to an accumulate rating in a research report released on Thursday, MarketBeat.com reports.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley decreased their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. UBS Group dropped their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Benchmark upgraded Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com cut Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.75.

Macy’s Stock Down 0.5 %

M opened at $15.04 on Thursday. The firm’s 50 day simple moving average is $15.69 and its two-hundred day simple moving average is $15.65. The company has a market capitalization of $4.17 billion, a PE ratio of 25.48 and a beta of 2.05. 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.

Macy’s (NYSE:M) last announced 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 company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business posted $0.21 earnings per share. Macy’s’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that Macy’s will post 2.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new stake in Macy’s during the fourth quarter valued at $34,000. Quest Partners LLC bought a new stake in shares of Macy’s in the 3rd quarter worth about $35,000. Venturi Wealth Management LLC raised 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 valued at $36,000 after buying an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Macy’s by 82.1% in the 4th 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 last quarter. Finally, Kestra Investment Management LLC purchased a new position in Macy’s in the fourth quarter worth about $38,000. 87.36% of the stock is currently owned by institutional investors.

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.