Macy’s (NYSE:M) Earns “Market Perform” Rating from Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They currently have a $17.00 price target on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 17.00% from the company’s previous close.

A number of other analysts also recently issued reports on M. Morgan Stanley decreased their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Benchmark raised Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Gordon Haskett cut shares of Macy’s from a “buy” rating to an “accumulate” rating in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus price target of $17.75.

Macy’s Stock Performance

NYSE:M opened at $14.53 on Thursday. Macy’s has a 52 week low of $13.66 and a 52 week high of $22.10. The company has a fifty day simple moving average of $15.46 and a two-hundred day simple moving average of $15.61. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 24.63 and a beta of 2.05.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently made changes to their positions in M. Dimensional Fund Advisors LP grew its position in Macy’s by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock valued at $266,666,000 after buying an additional 1,149,454 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of Macy’s by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after acquiring an additional 1,627,572 shares in the last quarter. FMR LLC increased its stake in shares of Macy’s by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after acquiring an additional 2,812,151 shares during the period. American Century Companies Inc. raised its holdings in Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after purchasing an additional 774,693 shares in the last quarter. Finally, Norges Bank acquired a new stake in Macy’s in the fourth quarter valued at about $96,689,000. Hedge funds and other institutional investors 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.