Macy’s (NYSE:M) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

Macy’s (NYSE:M) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports. They currently have a $14.00 price objective on the stock, down from their prior price objective of $19.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.02% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Thursday. Finally, UBS Group decreased their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.29.

Macy’s Trading Down 0.8 %

Shares of M traded down $0.11 during midday trading on Thursday, hitting $13.21. The stock had a trading volume of 18,307,171 shares, compared to its average volume of 6,888,780. The business has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $15.53. The firm has a market cap of $3.67 billion, a P/E ratio of 22.38 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s has a fifty-two week low of $12.60 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts forecast that Macy’s will post 2.39 EPS for the current year.

Hedge Funds Weigh In On Macy’s

Institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC bought a new stake in Macy’s during the 4th quarter valued at approximately $34,000. Jones Financial Companies Lllp lifted its holdings in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter worth approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Macy’s in the fourth quarter valued at approximately $38,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.