Macy’s (NYSE:M) Earns Market Perform Rating from Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They presently have a $17.00 target price on the stock. Telsey Advisory Group’s target price points to a potential upside of 18.47% from the company’s previous close.

Several other research firms also recently commented on M. JPMorgan Chase & Co. cut their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. UBS Group lowered their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Gordon Haskett downgraded shares of Macy’s from a “buy” rating to an “accumulate” rating in a report on Thursday, February 13th. Finally, Morgan Stanley decreased their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $17.14.

Macy’s Stock Up 2.1 %

Shares of M stock opened at $14.35 on Thursday. Macy’s has a one year low of $13.66 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a fifty day moving average price of $15.39 and a 200 day moving average price of $15.59. The stock has a market cap of $3.98 billion, a P/E ratio of 24.32 and a beta of 2.05.

Macy’s (NYSE:M) last issued its earnings results 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 analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $0.21 earnings per share. Macy’s’s revenue was down 2.4% on a year-over-year basis. Analysts predict that Macy’s will post 2.39 earnings per share for the current year.

Institutional Trading of Macy’s

Several hedge funds have recently modified their holdings of M. Dimensional Fund Advisors LP lifted its holdings in Macy’s by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock worth $266,666,000 after buying an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC lifted its stake in shares of Macy’s by 26.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after acquiring an additional 1,627,572 shares during the period. FMR LLC boosted its holdings in Macy’s by 59.9% in the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after acquiring an additional 2,812,151 shares during the last quarter. American Century Companies Inc. increased its position in Macy’s by 12.2% in the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after purchasing an additional 774,693 shares during the period. Finally, Norges Bank bought a new stake in Macy’s during the 4th quarter worth about $96,689,000. 87.36% of the stock is 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.