Macy’s’ (M) “Market Perform” Rating Reiterated at Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reiterated by Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They presently have a $17.00 target price on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 1.46% from the company’s current price.

Several other analysts have also recently weighed in on M. Morgan Stanley dropped their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and an average price target of $19.86.

Macy’s Price Performance

Shares of NYSE M opened at $16.76 on Wednesday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 26.18 and a beta of 2.11. Macy’s has a 52 week low of $14.06 and a 52 week high of $22.10. The firm has a 50-day simple moving average of $15.73 and a 200-day simple moving average of $16.53. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Macy’s will post 2.74 earnings per share for the current fiscal year.

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama lifted its holdings in shares of Macy’s by 57.9% in the 3rd 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 last quarter. PVG Asset Management Corp purchased a new position in Macy’s in the third quarter valued at about $730,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Macy’s during the 3rd quarter valued at approximately $221,000. Virtu Financial LLC purchased a new stake in shares of Macy’s during the 3rd quarter worth approximately $594,000. Finally, Geode Capital Management LLC grew its holdings in shares of Macy’s by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after acquiring an additional 128,258 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

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.