Morgan Stanley Has Lowered Expectations for Macy’s (NYSE:M) Stock Price

Macy’s (NYSE:M) had its price target lowered by analysts at Morgan Stanley from $14.00 to $12.00 in a research report issued on Tuesday, Marketbeat reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 3.58% from the company’s current price.

Other analysts have also recently issued reports about the company. UBS Group decreased their target price on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th. Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Barclays started coverage on shares of Macy’s in a report on Monday, April 28th. They issued a “cautious” rating and a $12.00 target price on the stock. Citigroup lowered their price objective on shares of Macy’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Finally, Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Macy’s Price Performance

M stock opened at $11.59 on Tuesday. The business has a 50 day moving average price of $12.26 and a 200 day moving average price of $14.46. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 19.64 and a beta of 1.77. Macy’s has a fifty-two week low of $9.76 and a fifty-two week high of $20.70.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Equities research analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 3,124 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares of the company’s stock, valued at approximately $3,746,623.20. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of Macy’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the transaction, the executive vice president now owns 4,723 shares of the company’s stock, valued at approximately $59,887.64. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock worth $537,790 over the last 90 days. Company insiders own 2.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Trifecta Capital Advisors LLC purchased a new position in Macy’s in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp boosted its position in 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 acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Macy’s in the 4th quarter worth approximately $38,000. Bessemer Group Inc. raised its holdings in Macy’s by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Macy’s during the 4th quarter worth $102,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

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.