Macy’s (NYSE:M) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Macy’s (NYSE:M) from a strong-buy rating to a buy rating in a research report report published on Monday.

Other analysts have also recently issued reports about the stock. Telsey Advisory Group upped their target price on shares of Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. UBS Group set a $21.00 price objective on Macy’s in a research note on Thursday, December 4th. Citigroup lifted their target price on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 18th. Finally, Barclays raised their price objective on Macy’s from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Macy’s Stock Performance

M stock opened at $22.30 on Monday. Macy’s has a 1 year low of $9.76 and a 1 year high of $24.41. The stock’s fifty day moving average price is $20.97 and its 200-day moving average price is $16.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The company has a market cap of $5.93 billion, a P/E ratio of 13.20 and a beta of 1.44.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the company posted $0.04 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, equities analysts forecast that Macy’s will post 2.39 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.1824 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.3%. Macy’s’s dividend payout ratio is 43.20%.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of Macy’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the transaction, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Macy’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new position in shares of Macy’s during the 3rd quarter worth $31,000. Bessemer Group Inc. lifted its position in Macy’s by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after buying an additional 592 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Macy’s by 101.1% during the third quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock worth $41,000 after buying an additional 1,162 shares during the period. UMB Bank n.a. boosted its stake in Macy’s by 523.0% during the second quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock worth $37,000 after buying an additional 2,662 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Macy’s by 28.7% during the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock valued at $57,000 after acquiring an additional 1,087 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

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.