Macy’s (NYSE:M) Given New $16.00 Price Target at Morgan Stanley

Macy’s (NYSE:M) had its price target decreased by equities research analysts at Morgan Stanley from $17.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 3.47% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Wednesday. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.71.

Macy’s Trading Down 0.9 %

Shares of M stock opened at $16.58 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 25.90 and a beta of 2.10. Macy’s has a 52-week low of $14.06 and a 52-week high of $22.10. The company has a 50-day simple moving average of $15.76 and a two-hundred day simple moving average of $16.53.

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

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently made changes to their positions in M. Marshall Wace LLP boosted its holdings in Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after purchasing an additional 3,319,337 shares during the period. Dimensional Fund Advisors LP boosted its stake in Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after buying an additional 1,379,476 shares during the period. American Century Companies Inc. grew its position in Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after buying an additional 747,542 shares in the last quarter. Barington Capital Group L.P. increased its stake in Macy’s by 550.0% in the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company’s stock worth $10,198,000 after acquiring an additional 550,000 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Macy’s by 57.9% in the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after acquiring an additional 286,879 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.