Wall Street Zen Downgrades Macy’s (NYSE:M) to Buy

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

A number of other equities analysts have also recently issued reports on M. The Goldman Sachs Group upped their target price on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. UBS Group set a $21.00 price target on Macy’s in a research note on Thursday, December 4th. Zacks Research cut Macy’s from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Citigroup reaffirmed a “neutral” rating on shares of Macy’s in a research note on Wednesday, February 18th. Finally, Evercore lifted their target price on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $21.33.

Macy’s Stock Performance

NYSE M opened at $18.27 on Friday. The firm’s fifty day moving average price is $21.27 and its two-hundred day moving average price is $19.76. The stock has a market cap of $4.86 billion, a PE ratio of 10.81 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. Macy’s has a fifty-two week low of $9.76 and a fifty-two week high of $24.41.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the prior year, the company earned $0.04 EPS. Macy’s’s revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that Macy’s will post 2.39 EPS for the current fiscal year.

Insider Activity at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strengthening Families & Communities LLC bought a new stake in Macy’s in the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new position in Macy’s during the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of Macy’s in the 3rd quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its position in shares of Macy’s by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Macy’s by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after purchasing an additional 592 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.