Brokerages Set Macy’s, Inc. (NYSE:M) PT at $20.50

Macy’s, Inc. (NYSE:M) has been assigned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.50.

Several analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Telsey Advisory Group lifted their price target on shares of Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. Evercore ISI boosted their price target on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research report on Friday, December 5th. Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 18th. Finally, Guggenheim started coverage on Macy’s in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock.

Insider Buying and Selling

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the business’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 value of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Macy’s

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Macy’s in the 2nd quarter worth $58,743,000. Schroder Investment Management Group raised its holdings in Macy’s by 104.5% during the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock worth $112,260,000 after purchasing an additional 4,920,821 shares in the last quarter. AQR Capital Management LLC raised its holdings in Macy’s by 269.2% during the first quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company’s stock worth $65,683,000 after purchasing an additional 3,813,210 shares in the last quarter. Invesco Ltd. lifted its position in Macy’s by 160.5% in the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock valued at $49,941,000 after purchasing an additional 2,639,132 shares during the period. Finally, Hennessy Advisors Inc. purchased a new stake in Macy’s in the 3rd quarter valued at approximately $44,362,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Trading Down 1.2%

M opened at $22.30 on Friday. Macy’s has a one year low of $9.76 and a one year high of $24.41. The company has a market cap of $5.93 billion, a P/E ratio of 13.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. The business’s 50-day simple moving average is $21.06 and its 200-day simple moving average is $16.53.

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

Macy’s Dividend Announcement

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

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.