JPMorgan Chase & Co. Has Lowered Expectations for Macy's (NYSE:M) Stock Price

Macy's (NYSE:M - Get Free Report) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $13.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 1.01% from the company's current price.

Several other research firms also recently issued reports on M. Telsey Advisory Group decreased their price objective on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research note on Thursday. Benchmark upgraded shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. Cowen reiterated a "hold" rating on shares of Macy's in a report on Friday, March 7th. UBS Group decreased their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Finally, Wall Street Zen raised shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.20.

Macy's Stock Down 0.5%

Shares of M stock traded down $0.06 on Thursday, reaching $11.88. 8,401,442 shares of the stock were exchanged, compared to its average volume of 6,444,198. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The business's 50 day moving average price is $11.69 and its 200 day moving average price is $14.04. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 20.14 and a beta of 1.77. Macy's has a twelve month low of $9.76 and a twelve month high of $20.47.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company's revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Macy's will post 2.39 earnings per share for the current fiscal year.

Insider Activity at Macy's

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the completion of the sale, the executive vice president now directly owns 116,165 shares of the company's stock, 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 at this link. Also, CEO Antony Spring sold 3,124 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This represents a 1.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. Corporate insiders own 2.77% of the company's stock.

Hedge Funds Weigh In On Macy's

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Macy's by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,964,002 shares of the company's stock valued at $200,510,000 after buying an additional 212,791 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Macy's by 21.9% in the 1st quarter. American Century Companies Inc. now owns 8,699,534 shares of the company's stock valued at $109,266,000 after buying an additional 1,562,402 shares in the last quarter. Cooper Creek Partners Management LLC increased its position in shares of Macy's by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after purchasing an additional 1,627,572 shares in the last quarter. FMR LLC increased its position in shares of Macy's by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after purchasing an additional 2,812,151 shares in the last quarter. Finally, RWC Asset Management LLP acquired a new stake in shares of Macy's during the 1st quarter worth about $80,868,000. Institutional investors and hedge funds own 87.36% of the company's stock.

About Macy's

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.