Macy’s (NYSE:M) Issues FY 2026 Earnings Guidance

Macy’s (NYSE:M) issued an update on its FY 2026 earnings guidance on Thursday. The company provided earnings per share guidance of 2.150-2.350 for the period, compared to the consensus EPS estimate of 2.110. The company issued revenue guidance of $21.7 billion-$21.8 billion, compared to the consensus revenue estimate of $21.1 billion. Macy’s also updated its Q3 2026 guidance to -0.230–0.190 EPS.

Analysts Set New Price Targets

Several equities research analysts recently commented on M shares. TD Cowen increased their price target on Macy’s from $20.00 to $25.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Telsey Advisory Group upped their target price on Macy’s from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Thursday, June 4th. Evercore set a $22.00 target price on Macy’s in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on Macy’s from $21.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, Zacks Research raised shares of Macy’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.78.

Macy’s Price Performance

Shares of M opened at $21.51 on Thursday. Macy’s has a 1-year low of $16.41 and a 1-year high of $26.58. The stock has a market cap of $5.66 billion, a PE ratio of 8.89 and a beta of 1.41. The firm has a 50-day simple moving average of $23.55 and a two-hundred day simple moving average of $21.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.48 and a quick ratio of 0.44.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, September 10th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.37 by $0.26. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.81 billion. Macy’s had a net margin of 2.94% and a return on equity of 13.68%. Macy’s has set its Q3 2026 guidance at -0.230–0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. As a group, analysts forecast that Macy’s will post 2.22 EPS for the current year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 15th. Macy’s’s dividend payout ratio (DPR) is currently 31.82%.

Insiders Place Their Bets

In related news, SVP Paul Griscom sold 10,077 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $25.63, for a total value of $258,273.51. Following the sale, the senior vice president owned 25,373 shares in the company, valued at approximately $650,309.99. The trade was a 28.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas Edwards, Jr. sold 16,419 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total value of $408,668.91. Following the transaction, the executive vice president directly owned 20,000 shares in the company, valued at approximately $497,800. The trade was a 45.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.05% of the company’s stock.

More Macy’s News

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Macy’s reported adjusted earnings of $0.63 per share, well above the $0.37 analyst consensus, while revenue of $5.06 billion exceeded expectations of $4.81 billion. The company also reported a 2.94% net margin and 13.68% return on equity. Macy’s second-quarter 2026 press release
• Positive Sentiment: The retailer raised its full-year net-sales outlook to $21.68 billion-$21.83 billion, up from its prior forecast of $21.5 billion-$21.75 billion. Macy’s also increased its comparable-sales guidance, indicating that customer demand is holding up better than previously expected. Macy’s raises full-year outlook
• Positive Sentiment: Management said growth continued across all of Macy’s nameplates, while comparable sales increased. The combination of sales momentum, an earnings beat and improved guidance reinforces the view that the company’s turnaround is beginning to take hold. CNBC report on Macy’s second-quarter results
• Neutral Sentiment: Trading activity ahead of the report was unusually bullish, with investors purchasing 16,077 call options—about 39% above average volume. This may amplify short-term volatility but does not by itself change Macy’s underlying business outlook.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in M. Smartleaf Asset Management LLC grew its holdings in shares of Macy’s by 51.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Macy’s by 35.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after buying an additional 486 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Macy’s in the 4th quarter valued at approximately $54,000. Northwestern Mutual Wealth Management Co. boosted its position in Macy’s by 31.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,528 shares of the company’s stock valued at $78,000 after buying an additional 851 shares during the period. Finally, Vestcor Inc purchased a new position in Macy’s in the 3rd quarter valued at approximately $118,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.