Macy’s (NYSE:M) Lowered to “Accumulate” Rating by Gordon Haskett

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

Several other research firms have also commented on M. StockNews.com lowered shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. UBS Group reduced their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Morgan Stanley lowered 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 reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.75.

Macy’s Stock Up 0.9 %

Shares of M stock opened at $14.80 on Thursday. The stock has a market cap of $4.11 billion, a P/E ratio of 25.08 and a beta of 2.05. The company’s fifty day simple moving average is $15.74 and its two-hundred day simple moving average is $15.68. 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 has a 52 week low of $13.66 and a 52 week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations 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 earned $0.21 earnings per share. Analysts predict that Macy’s will post 2.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Macy’s

Several institutional investors and hedge funds have recently bought and sold shares of the company. ExodusPoint Capital Management LP boosted its holdings in Macy’s by 229.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 401,141 shares of the company’s stock worth $6,791,000 after acquiring an additional 279,394 shares in the last quarter. Geode Capital Management LLC lifted its position in Macy’s by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 5,059,725 shares of the company’s stock valued at $86,143,000 after purchasing an additional 35,935 shares during the period. AIA Group Ltd purchased a new stake in Macy’s in the fourth quarter valued at $298,000. Clearbridge Investments LLC grew its position in Macy’s by 2.7% during the 4th quarter. Clearbridge Investments LLC now owns 90,085 shares of the company’s stock worth $1,525,000 after purchasing an additional 2,400 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of Macy’s by 15.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 42,654 shares of the company’s stock valued at $722,000 after buying an additional 5,686 shares during 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.