Macy’s (NYSE:M) Price Target Lowered to $14.00 at Citigroup

Macy’s (NYSE:M) had its price objective dropped by investment analysts at Citigroup from $16.00 to $14.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential downside of 0.67% from the company’s previous close.

M has been the subject of several other research reports. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $14.00 in a research report on Thursday. Finally, StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

Macy’s Stock Performance

M traded up $0.88 during midday trading on Friday, reaching $14.10. The company had a trading volume of 13,496,122 shares, compared to its average volume of 7,130,802. Macy’s has a 1 year low of $12.60 and a 1 year high of $22.10. 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 company has a market cap of $3.91 billion, a P/E ratio of 23.89 and a beta of 2.05. The business has a 50-day moving average of $15.10 and a two-hundred day moving average of $15.50.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion for 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%. As a group, equities research analysts predict that Macy’s will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently bought and sold shares of the business. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy’s during the fourth quarter valued at $34,000. Jones Financial Companies Lllp boosted its position in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after buying an additional 969 shares during the period. Quest Partners LLC bought a new position in Macy’s in the 3rd quarter worth about $35,000. Kestra Investment Management LLC purchased a new position in shares of Macy’s during the fourth quarter worth approximately $38,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

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.