Macy’s (NYSE:M) PT Raised to $19.00 at JPMorgan Chase & Co.

Macy’s (NYSE:M) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $16.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 31.58% from the stock’s previous close.

A number of other research analysts also recently weighed in on M. Evercore ISI started coverage on shares of Macy’s in a research report on Tuesday, November 7th. They set an “inline” rating and a $13.00 price objective on the stock. Citigroup lowered their price objective on shares of Macy’s from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 23rd. The Goldman Sachs Group decreased their price target on shares of Macy’s from $23.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. UBS Group decreased their price target on shares of Macy’s from $12.00 to $10.00 and set a “sell” rating on the stock in a research report on Wednesday, August 23rd. Finally, Gordon Haskett downgraded shares of Macy’s from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a research report on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

Macy’s Price Performance

Shares of M opened at $14.44 on Friday. The firm’s 50-day simple moving average is $11.52 and its two-hundred day simple moving average is $13.82. Macy’s has a fifty-two week low of $10.54 and a fifty-two week high of $25.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 1.26. The stock has a market cap of $3.95 billion, a PE ratio of 5.35, a price-to-earnings-growth ratio of 0.38 and a beta of 1.90.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, November 16th. The company reported $0.21 EPS for the quarter. Macy’s had a net margin of 3.15% and a return on equity of 22.46%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. Analysts anticipate that Macy’s will post 2.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macy’s

Large investors have recently made changes to their positions in the company. FinTrust Capital Advisors LLC bought a new stake in shares of Macy’s in the 4th quarter valued at about $26,000. Estabrook Capital Management grew its position in shares of Macy’s by 77.8% in the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after buying an additional 700 shares during the last quarter. Quarry LP purchased a new position in shares of Macy’s in the 1st quarter worth approximately $33,000. CWM LLC grew its position in shares of Macy’s by 53.8% in the 2nd quarter. CWM LLC now owns 1,952 shares of the company’s stock worth $31,000 after buying an additional 683 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in shares of Macy’s by 267.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock worth $34,000 after buying an additional 1,429 shares during the last quarter. 82.69% of the stock is owned by hedge funds and other 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.