Wall Street Zen Downgrades Macy's (NYSE:M) to Hold

Key Points

• Wall Street Zen downgraded Macy's from a "strong-buy" to a "hold" on Monday, and MarketBeat shows a consensus rating of "Reduce" with a $18.90 average target based on 1 Buy, 10 Hold and 3 Sell analyst ratings.
• Analyst views are mixed — Goldman raised its target to $22 (neutral), JPMorgan trimmed its target to $21 (neutral), Jefferies remains a buy at $22, and UBS still rates Macy's a sell with a $9 target, reflecting a wide range of price targets.
• Macy's recently beat quarterly estimates with EPS of $1.67 vs. $1.55 expected and revenue of $7.92B vs. $7.48B, while revenue fell 1.7% year-over-year; the stock trades near $17.87 with a market cap of $4.75B and a PE of 7.7.

Macy's (NYSE:M - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a report released on Monday.

Several other research firms have also commented on M. The Goldman Sachs Group raised their price target on Macy's from $16.50 to $22.00 and gave the company a "neutral" rating in a research note on Friday, December 5th. JPMorgan Chase & Co. lowered their price objective on Macy's from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Guggenheim began coverage on Macy's in a report on Tuesday, December 9th. They issued a "neutral" rating on the stock. Jefferies Financial Group reissued a "buy" rating and set a $22.00 target price on shares of Macy's in a research report on Wednesday. Finally, UBS Group boosted their target price on Macy's from $8.00 to $9.00 and gave the stock a "sell" rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $18.90.

Macy's Trading Down 1.0%

NYSE M opened at $17.87 on Monday. Macy's has a 52 week low of $9.76 and a 52 week high of $24.41. The firm has a 50 day moving average of $20.25 and a two-hundred day moving average of $20.13. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $4.75 billion, a PE ratio of 7.70 and a beta of 1.51.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.12. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.48 billion. Macy's had a net margin of 2.84% and a return on equity of 14.22%. The company's revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. As a group, research analysts expect that Macy's will post 2.39 EPS for the current fiscal year.

Institutional Trading of Macy's

A number of hedge funds and other institutional investors have recently made changes to their positions in M. Strengthening Families & Communities LLC acquired a new stake in shares of Macy's in the 4th quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Macy's in the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. purchased a new position in shares of Macy's during the third quarter worth approximately $31,000. Smartleaf Asset Management LLC grew its position in Macy's by 51.7% during 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 last quarter. Finally, Bessemer Group Inc. increased its stake in Macy's by 41.4% in the third 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 period. Institutional investors and hedge funds own 87.36% of the company's stock.

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.

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