Macy’s (NYSE:M) Stock Rating Upgraded by Wall Street Zen

Macy’s (NYSE:M) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

A number of other analysts have also weighed in on the company. Zacks Research lowered Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Evercore boosted their price objective on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research report on Friday, December 5th. TD Cowen restated a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Guggenheim assumed coverage on shares of Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group initiated coverage on Macy’s in a report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 price target for the company. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $20.00.

Macy’s Trading Up 0.3%

Shares of NYSE M opened at $17.09 on Friday. Macy’s has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 10.11 and a beta of 1.51. The business’s 50 day moving average price is $20.69 and its 200-day moving average price is $20.02.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Macy’s by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,145,972 shares of the company’s stock valued at $356,020,000 after purchasing an additional 494,280 shares in the last quarter. RWC Asset Management LLP raised its stake in Macy’s by 0.6% in the fourth quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company’s stock worth $241,782,000 after buying an additional 62,839 shares in the last quarter. American Century Companies Inc. raised its stake in Macy’s by 6.6% in the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock worth $193,004,000 after buying an additional 669,729 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Macy’s by 1.1% during the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock worth $174,608,000 after buying an additional 110,548 shares during the period. Finally, State Street Corp lifted its holdings in Macy’s by 0.5% during the second quarter. State Street Corp now owns 9,420,372 shares of the company’s stock worth $111,547,000 after buying an additional 45,997 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.