Macy’s (NYSE:M) Rating Lowered to “Buy” at Wall Street Zen

Macy’s (NYSE:M) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other brokerages have also issued reports on M. The Goldman Sachs Group boosted their price target on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Citigroup restated a “neutral” rating on shares of Macy’s in a report on Wednesday, February 18th. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. Telsey Advisory Group upped their target price on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, December 4th. Finally, Guggenheim started coverage on Macy’s in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $21.33.

Macy’s Price Performance

Shares of M stock opened at $18.27 on Friday. The company has a market capitalization of $4.86 billion, a P/E ratio of 10.81 and a beta of 1.51. The company’s 50-day simple moving average is $21.27 and its two-hundred day simple moving average is $19.85. Macy’s has a one year low of $9.76 and a one year high of $24.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares of the company’s stock, valued at $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Macy’s

Several institutional investors and hedge funds have recently bought and sold shares of M. Strengthening Families & Communities LLC purchased a new stake in shares of Macy’s during the 4th quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in Macy’s during the 4th quarter worth $29,000. Smartleaf Asset Management LLC grew its stake in Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after buying an additional 526 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Macy’s during the 3rd quarter valued at about $31,000. Finally, CIBC Private Wealth Group LLC increased its position in Macy’s by 35.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock valued at $41,000 after buying an additional 486 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.