Macy’s, Inc. (NYSE:M) Receives $20.50 Consensus Target Price from Brokerages

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

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Cowen reissued a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. The Goldman Sachs Group lifted their target price on shares of Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Telsey Advisory Group upped 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 report on Thursday, December 4th. Finally, UBS Group set a $21.00 price objective on Macy’s in a research report on Thursday, December 4th.

Macy’s Stock Performance

NYSE:M opened at $21.74 on Tuesday. The company has a market cap of $5.78 billion, a P/E ratio of 12.86 and a beta of 1.43. The firm’s 50 day moving average is $22.06 and its two-hundred day moving average is $17.89. Macy’s has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. 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 EPS for the quarter, topping 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 prior year, the firm posted $0.04 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Analysts expect that Macy’s will post 2.39 EPS for the current year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.73 annualized dividend and a yield of 3.4%. Macy’s’s payout ratio is 43.20%.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in shares of Macy’s during the 3rd quarter valued at about $44,362,000. Prudential Financial Inc. boosted its stake in Macy’s by 4.6% in 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. Texas Permanent School Fund Corp boosted its stake in 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 acquiring an additional 62,596 shares during the period. Caxton Associates LLP acquired a new position in Macy’s during the 2nd quarter valued at approximately $2,276,000. Finally, Oak Thistle LLC bought a new position in Macy’s during the 3rd quarter worth $3,333,000. 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.