Macy’s (NYSE:M) Upgraded by StockNews.com to “Buy” Rating

Macy’s (NYSE:M) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also commented on M. JPMorgan Chase & Co. reduced their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. UBS Group reduced their price target 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. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Tuesday. Morgan Stanley dropped their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Finally, Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average target price of $17.78.

Macy’s Trading Down 1.5 %

Shares of Macy’s stock opened at $13.81 on Tuesday. Macy’s has a 12-month low of $13.66 and a 12-month high of $22.10. The stock has a market capitalization of $3.83 billion, a P/E ratio of 23.41 and a beta of 2.07. The company has a 50-day simple moving average of $16.15 and a 200 day simple moving average of $16.09. The company has a quick ratio of 0.34, 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). The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Research analysts expect that Macy’s will post 2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Macy’s by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after acquiring an additional 1,379,476 shares during the last quarter. Geode Capital Management LLC raised its holdings in Macy’s by 2.6% in the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after purchasing an additional 128,258 shares during the period. FMR LLC raised its holdings in Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the period. Marshall Wace LLP boosted its position in shares of Macy’s by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after purchasing an additional 3,319,337 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after buying an additional 118,626 shares during the period. 87.36% of the stock is currently owned by institutional investors.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.