Macy’s (NYSE:M) Stock Rating Lowered by TheStreet

Macy’s (NYSE:MGet Rating) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

A number of other analysts have also commented on M. Citigroup cut their price target on Macy’s from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday. Zacks Investment Research downgraded Macy’s from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Thursday, February 17th. Morgan Stanley upgraded Macy’s from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $20.00 to $22.00 in a research report on Friday. StockNews.com started coverage on Macy’s in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Telsey Advisory Group lowered their price objective on Macy’s from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Macy’s presently has a consensus rating of “Hold” and an average target price of $31.54.

NYSE:M opened at $23.40 on Thursday. The stock’s 50-day simple moving average is $23.74 and its 200 day simple moving average is $25.67. The firm has a market capitalization of $6.67 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 0.37 and a beta of 1.77. The company has a quick ratio of 0.44, a current ratio of 1.25 and a debt-to-equity ratio of 0.91. Macy’s has a twelve month low of $15.68 and a twelve month high of $37.95.

Macy’s (NYSE:MGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.26. Macy’s had a return on equity of 53.59% and a net margin of 5.84%. The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts anticipate that Macy’s will post 4.32 EPS for the current fiscal year.

Macy’s announced that its board has initiated a stock repurchase plan on Tuesday, February 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

In other Macy’s news, EVP Danielle L. Kirgan sold 10,222 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $26.35, for a total transaction of $269,349.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul Griscom sold 1,039 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $25.40, for a total value of $26,390.60. The disclosure for this sale can be found here. In the last three months, insiders sold 29,465 shares of company stock valued at $759,227. 0.58% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Macy’s by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock valued at $744,202,000 after acquiring an additional 1,642,941 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after purchasing an additional 2,155,936 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Macy’s by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,712,428 shares of the company’s stock worth $201,923,000 after purchasing an additional 77,068 shares during the period. Renaissance Technologies LLC raised its stake in shares of Macy’s by 47.6% during the 3rd quarter. Renaissance Technologies LLC now owns 5,933,464 shares of the company’s stock worth $134,096,000 after purchasing an additional 1,914,700 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Macy’s by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 5,628,390 shares of the company’s stock worth $147,355,000 after purchasing an additional 224,343 shares during the period. Institutional investors and hedge funds own 85.98% of the company’s stock.

About Macy’s (Get Rating)

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

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Analyst Recommendations for Macy's (NYSE:M)

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