Macy’s (NYSE:M) Stock Rating Lowered by Gordon Haskett

Macy’s (NYSE:M) was downgraded by Gordon Haskett from an “accumulate” rating to a “hold” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

Other research analysts also recently issued reports about the company. Benchmark raised Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Thursday. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley lowered their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.14.

Macy’s Stock Down 0.9 %

Shares of NYSE:M traded down $0.12 on Thursday, hitting $13.20. 13,202,255 shares of the company traded hands, compared to its average volume of 6,849,097. The stock has a 50 day simple moving average of $15.26 and a 200-day simple moving average of $15.53. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.66 billion, a PE ratio of 22.36 and a beta of 2.05. 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 data 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%. As a group, research analysts expect that Macy’s will post 2.39 earnings per share for the current year.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently modified their holdings of the company. Trifecta Capital Advisors LLC bought a new stake in Macy’s during the 4th quarter valued at approximately $34,000. Jones Financial Companies Lllp raised its position in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after buying an additional 969 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Macy’s in the third quarter worth $35,000. Kestra Investment Management LLC bought a new position in shares of Macy’s during the fourth quarter worth $38,000. Finally, Venturi Wealth Management LLC boosted its position in shares of 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 acquiring an additional 1,685 shares during the last quarter. 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.