Macy’s (NYSE:M) Lowered to “Neutral” Rating by JPMorgan Chase & Co.

Macy’s (NYSE:M) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They currently have a $14.00 target price on the stock, down from their prior target price of $19.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.02% from the stock’s previous close.

M has been the topic of several other reports. Telsey Advisory Group restated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Thursday. UBS Group dropped their price target 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. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.29.

Macy’s Stock Down 0.8 %

Shares of NYSE:M traded down $0.11 during mid-day trading on Thursday, hitting $13.21. 18,307,171 shares of the company traded hands, compared to its average volume of 6,888,780. The firm’s 50 day simple moving average is $15.26 and its 200 day simple moving average is $15.53. The firm has a market cap of $3.67 billion, a P/E ratio of 22.38 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s has a 52-week low of $12.60 and a 52-week high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. On average, equities analysts anticipate that Macy’s will post 2.39 EPS for the current year.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in Macy’s during the 3rd quarter valued at $35,000. Venturi Wealth Management LLC boosted 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 period. Jones Financial Companies Lllp grew its stake in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after purchasing an additional 969 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Macy’s during the fourth quarter valued at $38,000. 87.36% of the stock is 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.