Macy’s (NYSE:M) Given Market Perform Rating at Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reiterated by equities researchers at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They presently have a $17.00 price target on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 16.68% from the stock’s previous close.

M has been the topic of several other reports. JPMorgan Chase & Co. decreased their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. UBS Group cut their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.78.

Macy’s Stock Performance

NYSE M opened at $14.57 on Tuesday. The firm has a market cap of $4.05 billion, a P/E ratio of 24.69 and a beta of 2.07. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $16.18 and its 200-day moving average is $16.13. Macy’s has a 12-month low of $14.06 and a 12-month high of $22.10.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Macy’s by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after buying an additional 118,626 shares during the period. FMR LLC increased its stake in Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the period. Virtu Financial LLC purchased a new position in Macy’s in the 3rd quarter worth approximately $594,000. Alerus Financial NA bought a new stake in Macy’s in the third quarter valued at approximately $2,144,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Macy’s by 57.9% during the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after purchasing an additional 286,879 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.