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TD Cowen Downgrades Macy's (M)

Fintel reports that on February 29, 2024, TD Cowen downgraded their outlook for Macy's (NYSE:M) from Outperform to Market Perform .

Analyst Price Forecast Suggests 0.71% Downside

As of February 24, 2024, the average one-year price target for Macy's is 18.28. The forecasts range from a low of 11.11 to a high of $24.15. The average price target represents a decrease of 0.71% from its latest reported closing price of 18.41.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Macy's is 25,011MM, an increase of 4.80%. The projected annual non-GAAP EPS is 4.10.

What is the Fund Sentiment?

There are 846 funds or institutions reporting positions in Macy's. This is an increase of 15 owner(s) or 1.81% in the last quarter. Average portfolio weight of all funds dedicated to M is 0.19%, an increase of 26.45%. Total shares owned by institutions increased in the last three months by 4.84% to 264,465K shares. M / Macy's, Inc. Put/Call Ratios The put/call ratio of M is 1.44, indicating a bearish outlook.

What are Other Shareholders Doing?

M / Macy's, Inc. Shares Held by Institutions

Nomura Holdings holds 19,412K shares representing 7.08% ownership of the company. In it's prior filing, the firm reported owning 190K shares, representing an increase of 99.02%. The firm increased its portfolio allocation in M by 12,717.96% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 11,610K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 11,320K shares, representing an increase of 2.50%. The firm increased its portfolio allocation in M by 54.20% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,464K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 8,457K shares, representing an increase of 0.08%. The firm decreased its portfolio allocation in M by 24.86% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 8,306K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 8,517K shares, representing a decrease of 2.54%. The firm increased its portfolio allocation in M by 56.18% over the last quarter.

Newport Trust holds 7,619K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 7,810K shares, representing a decrease of 2.51%. The firm increased its portfolio allocation in M by 46.52% over the last quarter.

Macy`s Background Information
(This description is provided by the company.)

Macy's, Inc. is one of the nation's premier omni-channel fashion retailers. The company comprises three retail brands, Macy's, Bloomingdale's and Bluemercury. Macy's, Inc. is headquartered in New York, New York.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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