Citigroup Issues Pessimistic Forecast for Macy’s (NYSE:M) Stock Price

Macy’s (NYSE:M) had its price objective dropped by Citigroup from $16.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential downside of 0.67% from the company’s current price.

A number of other brokerages also recently issued reports on M. Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. UBS Group dropped their target price on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a report on Thursday. Finally, Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Macy’s Trading Up 6.6 %

NYSE M opened at $14.10 on Friday. The company has a fifty day moving average of $15.03 and a 200 day moving average of $15.46. The company has a market capitalization of $3.91 billion, a PE ratio of 23.89 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s has a 1 year low of $12.60 and a 1 year high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Research analysts forecast that Macy’s will post 2.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC purchased a new position in Macy’s in the 4th quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in shares of Macy’s in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC lifted its position in Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Macy’s in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.