Macy’s (M) – Research Analysts’ Recent Ratings Changes

Macy’s (NYSE: M) recently received a number of ratings updates from brokerages and research firms:

• 8/22/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/22/2024 – Macy’s had its price target lowered by analysts at Morgan Stanley from $18.00 to $17.00. They now have an “equal weight” rating on the stock.
• 8/21/2024 – Macy’s had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $21.00 price target on the stock.
• 8/14/2024 – Macy’s had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $21.00 price target on the stock.
• 8/14/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/6/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/29/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/21/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/16/2024 – Macy’s had its price target lowered by analysts at Evercore ISI from $22.00 to $17.00. They now have an “in-line” rating on the stock.
• 7/13/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/5/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 6/27/2024 – Macy’s is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Macy’s Stock Performance

Shares of Macy’s stock traded up $0.04 during trading on Thursday, reaching $15.49. The company’s stock had a trading volume of 4,015,487 shares, compared to its average volume of 6,727,066. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The firm has a market cap of $4.28 billion, a PE ratio of 516.33 and a beta of 2.18. The business’s 50-day moving average price is $17.53 and its 200-day moving average price is $18.77. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.22. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Equities analysts forecast that Macy’s, Inc. will post 2.79 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at $5,067,344.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,464 shares of company stock worth $824,081. Corporate insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Large investors have recently bought and sold shares of the company. Glassman Wealth Services raised its stake in shares of Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after acquiring an additional 743 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Macy’s in the first quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new position in shares of Macy’s in the first quarter worth approximately $42,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Macy’s in the first quarter valued at approximately $50,000. 87.36% of the stock is currently owned by institutional investors.

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.