Macy’s (NYSE:M) Upgraded by Wall Street Zen to Strong-Buy Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Macy’s (NYSE:M – Free Report) from a buy rating to a strong-buy rating in a research report report published on Sunday.

Several other research analysts have also commented on the company. Evercore ISI boosted their price target on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Macy’s in a research note on Monday, December 8th. Jefferies Financial Group boosted their target price on shares of Macy’s from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. Telsey Advisory Group raised 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. Finally, UBS Group set a $21.00 price objective on shares of Macy’s in a research report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.45.

View Our Latest Analysis on M

Macy’s Trading Up 0.7%

NYSE:M opened at $24.18 on Friday. The firm has a 50-day simple moving average of $20.08 and a 200-day simple moving average of $15.89. Macy’s has a one year low of $9.76 and a one year high of $24.41. The firm has a market cap of $6.43 billion, a P/E ratio of 14.31 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.

Macy’s (NYSE:M – Get Free Report) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.22. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. Macy’s’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Equities analysts anticipate that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th. Macy’s’s dividend payout ratio (DPR) is presently 43.20%.

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 shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the sale, the executive vice president 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently made changes to their positions in M. Dimensional Fund Advisors LP increased its position in shares of Macy’s by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,964,002 shares of the company’s stock valued at $200,510,000 after acquiring an additional 212,791 shares during the period. RWC Asset Management LLP raised its stake in Macy’s by 2.4% in the 3rd quarter. RWC Asset Management LLP now owns 10,902,310 shares of the company’s stock worth $195,478,000 after acquiring an additional 255,473 shares during the last quarter. American Century Companies Inc. lifted its position in Macy’s by 6.6% during the 3rd quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock worth $193,004,000 after acquiring an additional 669,729 shares during the period. Schroder Investment Management Group grew its stake in Macy’s by 1.1% during the 3rd quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock valued at $174,608,000 after purchasing an additional 110,548 shares during the last quarter. Finally, State Street Corp grew its stake in Macy’s by 0.5% during the 2nd quarter. State Street Corp now owns 9,420,372 shares of the company’s stock valued at $111,547,000 after purchasing an additional 45,997 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Company Profile

(Get Free Report)

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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