Macy’s (NYSE:M) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Macy’s (NYSE:M) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

M has been the subject of several other reports. BTIG Research started coverage on Macy’s in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. Telsey Advisory Group upped their price target on shares of Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. UBS Group set a $21.00 price objective on shares of Macy’s in a report on Thursday, December 4th. Citigroup boosted their price objective on shares of Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, Jefferies Financial Group initiated coverage on Macy’s in a report on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price for the company. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $20.50.

Macy’s Trading Up 2.3%

Shares of NYSE M traded up $0.48 during midday trading on Monday, hitting $21.71. The stock had a trading volume of 1,339,008 shares, compared to its average volume of 6,369,290. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The firm has a market cap of $5.77 billion, a P/E ratio of 12.87 and a beta of 1.50. The company’s 50-day simple moving average is $22.18 and its 200 day simple moving average is $18.52. Macy’s has a fifty-two week low of $9.76 and a fifty-two week high of $24.41.

Macy’s (NYSE:M) last released its earnings results 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 net margin of 2.10% and a return on equity of 15.57%. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the business earned $0.04 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Research analysts anticipate that Macy’s will post 2.39 EPS for the current year.

Insiders Place Their Bets

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’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 transaction, the executive vice president directly owned 51,161 shares in the company, valued at $1,223,771.12. This trade represents a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently added to or reduced their stakes in M. Hennessy Advisors Inc. acquired a new stake in Macy’s in the 3rd quarter worth about $44,362,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Macy’s in the 3rd quarter valued at $3,307,000. SummerHaven Investment Management LLC bought a new position in Macy’s in the third quarter valued at about $1,192,000. Prudential Financial Inc. boosted its stake in shares of Macy’s by 4.6% in the 2nd quarter. Prudential Financial Inc. now owns 389,238 shares of the company’s stock valued at $4,539,000 after purchasing an additional 17,209 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in Macy’s by 25.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 304,192 shares of the company’s stock worth $3,547,000 after purchasing an additional 62,596 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.