Macy’s (NYSE:M) Cut to “Hold” at Gordon Haskett

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

M has been the subject of several other reports. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a report on Thursday. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley dropped their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Finally, Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.14.

Macy’s Price Performance

NYSE:M traded down $0.12 during trading hours on Thursday, reaching $13.20. The stock had a trading volume of 13,202,255 shares, compared to its average volume of 6,849,097. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The stock has a market capitalization 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. The company has a 50 day moving average price of $15.26 and a two-hundred day moving average price of $15.53.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) 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, sell-side analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new position in shares of Macy’s during the fourth quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in Macy’s during the third quarter worth $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 valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the period. Finally, Kestra Investment Management LLC bought a new position in shares of Macy’s in the 4th quarter worth $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.