Macy’s (NYSE:M) Shares Down 4.9% – Here’s Why

Macy’s, Inc. (NYSE:M)’s share price traded down 4.9% during mid-day trading on Monday . The stock traded as low as $21.68 and last traded at $21.59. 2,320,261 shares traded hands during trading, a decline of 65% from the average session volume of 6,554,463 shares. The stock had previously closed at $22.70.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on M. Morgan Stanley increased their price objective on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Guggenheim assumed coverage on shares of Macy’s in a research report on Tuesday, December 9th. They issued a “neutral” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Finally, Wall Street Zen raised shares of Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $20.50.

Macy’s Price Performance

The business has a fifty day moving average of $22.08 and a 200 day moving average of $18.86. The firm has a market cap of $5.77 billion, a P/E ratio of 12.84 and a beta of 1.50. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the company earned $0.04 earnings per share. The business’s revenue for the quarter 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, sell-side analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Insider Activity at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were 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 of the company’s stock, valued at $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Macy’s

A number of institutional investors have recently modified their holdings of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Macy’s by 38.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock worth $2,047,000 after acquiring an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Macy’s by 5.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock worth $14,019,000 after purchasing an additional 55,821 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Macy’s by 33.1% during the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after purchasing an additional 14,489 shares during the period. Truist Financial Corp increased its holdings in shares of Macy’s by 13.7% during the second quarter. Truist Financial Corp now owns 33,446 shares of the company’s stock worth $390,000 after purchasing an additional 4,023 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in shares of Macy’s by 8.6% in the second quarter. KLP Kapitalforvaltning AS now owns 58,200 shares of the company’s stock valued at $688,000 after buying an additional 4,600 shares in the last quarter. Institutional investors 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.