Macy’s (NYSE:M) Downgraded to Hold Rating by StockNews.com

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

A number of other brokerages also recently commented on M. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, UBS Group dropped their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average price target of $17.75.

Macy’s Trading Down 2.3 %

Shares of M stock opened at $14.27 on Thursday. The stock has a 50-day simple moving average of $15.87 and a 200 day simple moving average of $15.73. The stock has a market capitalization of $3.96 billion, a P/E ratio of 24.18 and a beta of 2.06. Macy’s has a fifty-two week low of $13.66 and a fifty-two week high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that Macy’s will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in M. Geode Capital Management LLC lifted its holdings in shares of Macy’s by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock valued at $79,110,000 after buying an additional 128,258 shares during the last quarter. FMR LLC lifted its stake in Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares during the last quarter. Allianz Asset Management GmbH grew its position in Macy’s by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock worth $59,461,000 after acquiring an additional 411,412 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Macy’s by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock worth $56,116,000 after purchasing an additional 419,261 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Macy’s by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,776,462 shares of the company’s stock valued at $47,006,000 after purchasing an additional 114,586 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other 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.