Macy’s (NYSE:M) Downgraded to Buy Rating by Wall Street Zen

Macy’s (NYSE:M) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

M has been the subject of a number of other reports. Evercore lifted their target price on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a report on Friday, December 5th. The Goldman Sachs Group increased their price target on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. Citigroup reiterated a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group assumed coverage on shares of Macy’s in a research note on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price on the stock. One 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 data from MarketBeat, Macy’s currently has a consensus rating of “Reduce” and a consensus target price of $21.33.

Macy’s Stock Performance

Shares of Macy’s stock opened at $18.27 on Friday. The business has a 50-day moving average price of $21.27 and a two-hundred day moving average price of $19.76. Macy’s has a 1-year low of $9.76 and a 1-year high of $24.41. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.86 billion, a P/E ratio of 10.81 and a beta of 1.51.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (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 for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts anticipate that Macy’s will post 2.39 EPS for the current year.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its holdings in shares of Macy’s by 112.1% during the fourth quarter. Hsbc Holdings PLC now owns 383,947 shares of the company’s stock valued at $8,442,000 after buying an additional 202,906 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Macy’s by 1,859.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,337,481 shares of the company’s stock worth $29,491,000 after acquiring an additional 1,269,211 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Macy’s in the 4th quarter worth about $271,000. Corient Private Wealth LLC lifted its position in Macy’s by 58.8% in the 4th quarter. Corient Private Wealth LLC now owns 305,516 shares of the company’s stock valued at $6,737,000 after acquiring an additional 113,132 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Macy’s by 420.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 66,243 shares of the company’s stock valued at $1,461,000 after purchasing an additional 53,512 shares during the last quarter. 87.36% of the stock is 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.