Macy’s (NYSE:M) Downgraded by Zacks Research to “Hold”

Macy’s (NYSE:M) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

M has been the subject of a number of other reports. BTIG Research started coverage on shares of Macy’s in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Morgan Stanley raised their price objective on Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. Jefferies Financial Group began coverage on Macy’s in a report on Wednesday, January 14th. They set a “buy” rating and a $27.00 price objective for the company. TD Cowen reissued a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Finally, The Goldman Sachs Group raised their price target on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Macy’s has a consensus rating of “Reduce” and an average target price of $20.50.

Macy’s Trading Up 0.1%

Shares of M stock opened at $21.22 on Monday. The business’s fifty day moving average price is $22.18 and its 200 day moving average price is $18.52. The firm has a market capitalization of $5.64 billion, a PE ratio of 12.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy’s has a 1-year low of $9.76 and a 1-year high of $24.41.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.22. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, sell-side analysts forecast that Macy’s will post 2.39 EPS for the current fiscal year.

Insider Activity at Macy’s

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

Institutional Trading of Macy’s

Hedge funds and other institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. bought a new stake in shares of Macy’s during the 3rd quarter worth $44,362,000. Y Intercept Hong Kong Ltd acquired a new position in Macy’s during the 3rd quarter worth $3,307,000. SummerHaven Investment Management LLC acquired a new position in Macy’s during the 3rd quarter worth $1,192,000. Prudential Financial Inc. boosted its holdings in Macy’s by 4.6% during the second quarter. Prudential Financial Inc. now owns 389,238 shares of the company’s stock valued at $4,539,000 after acquiring an additional 17,209 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in shares of Macy’s by 25.9% in the second quarter. Texas Permanent School Fund Corp now owns 304,192 shares of the company’s stock valued at $3,547,000 after purchasing an additional 62,596 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.