Macy’s (NYSE:M) Upgraded at Wall Street Zen

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

Several other brokerages have also recently commented on M. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. Citigroup reiterated a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Guggenheim started coverage on Macy’s in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Finally, Zacks Research lowered shares of Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Macy’s currently has a consensus rating of “Reduce” and a consensus target price of $20.00.

Macy’s Trading Down 0.8%

Shares of M stock opened at $17.04 on Friday. The firm has a market capitalization of $4.53 billion, a PE ratio of 10.08 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 1 year low of $9.76 and a 1 year high of $24.41. The stock has a fifty day moving average of $20.80 and a two-hundred day moving average of $19.95.

Institutional Investors Weigh In On Macy’s

Large investors have recently bought and sold shares of the business. Hennessy Advisors Inc. bought a new stake in shares of Macy’s during the 3rd quarter worth about $44,362,000. Y Intercept Hong Kong Ltd bought a new position in shares of Macy’s in the 3rd quarter valued at approximately $3,307,000. Allianz Asset Management GmbH raised its stake in shares of Macy’s by 2.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock valued at $57,791,000 after acquiring an additional 65,395 shares in the last quarter. SummerHaven Investment Management LLC acquired a new stake in Macy’s in the 3rd quarter worth approximately $1,192,000. Finally, Prudential Financial Inc. lifted its holdings in Macy’s by 4.6% in the 2nd quarter. Prudential Financial Inc. now owns 389,238 shares of the company’s stock worth $4,539,000 after purchasing an additional 17,209 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

About Macy’s

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.