Macy’s (NYSE:M) Rating Lowered to Neutral at The Goldman Sachs Group

Macy’s (NYSE:M) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday, MarketBeat reports. They presently have a $12.00 price target on the stock, down from their previous price target of $17.00. The Goldman Sachs Group’s price objective indicates a potential upside of 11.19% from the company’s previous close.

A number of other brokerages have also weighed in on M. Morgan Stanley set a $14.00 target price on Macy’s in a research note on Monday, March 10th. UBS Group decreased their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 target price on shares of Macy’s in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.40.

Macy’s Trading Down 0.4 %

Shares of Macy’s stock opened at $10.79 on Tuesday. The company’s fifty day moving average price is $12.94 and its two-hundred day moving average price is $14.75. The firm has a market capitalization of $3.01 billion, a PE ratio of 18.29 and a beta of 1.73. Macy’s has a 52-week low of $9.76 and a 52-week high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. On average, analysts expect that Macy’s will post 2.39 EPS for the current year.

Insiders Place Their Bets

In other Macy’s news, EVP Adrian V. Mitchell sold 3,489 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the completion of the transaction, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antony Spring sold 20,868 shares of Macy’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. The trade was a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $537,790 in the last three months. 2.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Macy’s

Several large investors have recently modified their holdings of the stock. Trifecta Capital Advisors LLC bought a new position in Macy’s during the fourth quarter worth about $34,000. Jones Financial Companies Lllp boosted its holdings in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the period. Kestra Investment Management LLC purchased a new position in Macy’s in the 4th quarter valued at approximately $38,000. Bessemer Group Inc. raised its holdings in Macy’s by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in shares of Macy’s during the fourth quarter worth $102,000. 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.