Macy’s (NYSE:M – Get Free Report) had its price target decreased by investment analysts at Citigroup from $24.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 0.72% from the stock’s current price.
Several other research analysts have also recently commented on the company. Wall Street Zen raised Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 15th. Guggenheim began coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. TD Cowen restated a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Evercore raised their price objective on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a report on Friday, December 5th. Finally, Zacks Research lowered shares of Macy’s from a “hold” rating to a “strong sell” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $18.90.
Macy’s Trading Down 1.0%
Macy’s (NYSE:M – Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter last year, the company earned $1.80 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts predict that Macy’s will post 2.39 earnings per share for the current year.
Institutional Trading of Macy’s
Several large investors have recently added to or reduced their stakes in M. Strengthening Families & Communities LLC acquired a new stake in shares of Macy’s during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Macy’s in 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 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 acquiring an additional 526 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after acquiring an additional 592 shares during the last quarter. 87.36% of the stock is owned by institutional investors.
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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