Macy’s (NYSE:M) Price Target Lowered to $16.00 at Morgan Stanley

Macy’s (NYSE:M) had its price target reduced by analysts at Morgan Stanley from $17.00 to $16.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 3.44% from the company’s current price.

A number of other equities analysts have also issued reports on M. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Wednesday. Finally, Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.38.

Macy’s Stock Performance

M stock opened at $16.57 on Thursday. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 28.08 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The stock’s fifty day moving average is $15.79 and its two-hundred day moving average is $16.51.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior 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, research analysts predict that Macy’s will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Macy’s

Several large investors have recently made changes to their positions in M. Charles Schwab Investment Management Inc. boosted its stake in shares of Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after acquiring an additional 118,626 shares in the last quarter. FMR LLC raised its position in shares of Macy’s by 4.4% during the third 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. Alerus Financial NA purchased a new stake in shares of Macy’s during the third quarter valued at $2,144,000. WINTON GROUP Ltd boosted its position in shares of Macy’s by 96.4% in the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the period. Finally, Royce & Associates LP increased its stake in Macy’s by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after purchasing an additional 70,000 shares in the last quarter. Institutional investors 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.