Macy’s (NYSE:M) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

Macy’s (NYSE:M) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 26.10% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Wednesday, December 11th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Finally, Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average price target of $17.78.

Macy’s Trading Down 3.1 %

Shares of M stock traded down $0.50 during trading hours on Wednesday, hitting $15.86. 3,902,546 shares of the company’s stock traded hands, compared to its average volume of 6,232,993. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The stock has a market cap of $4.40 billion, a PE ratio of 26.88 and a beta of 2.07. The stock’s 50 day simple moving average is $16.15 and its 200 day simple moving average is $16.23.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the business earned $0.21 earnings per share. Macy’s’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Macy’s will post 2.4 EPS for the current year.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its position in shares of Macy’s by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 49,065 shares of the company’s stock valued at $942,000 after acquiring an additional 1,900 shares during the period. Arizona State Retirement System increased its holdings in shares of Macy’s by 1.9% in the second quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock worth $1,474,000 after purchasing an additional 1,462 shares during the period. United Services Automobile Association raised its position in shares of Macy’s by 4.8% in the second quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after buying an additional 1,012 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in Macy’s by 4.2% during the second quarter. Texas Permanent School Fund Corp now owns 250,022 shares of the company’s stock valued at $4,800,000 after buying an additional 10,156 shares during the period. Finally, 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. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.