Macy’s (NYSE:M) Trading Down 8.1% – Here’s What Happened
by Kim Johansen · The Markets DailyMacy’s, Inc. (NYSE:M – Get Free Report)’s share price was down 8.1% during trading on Monday . The company traded as low as $21.17 and last traded at $21.2840. Approximately 1,937,177 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,831,952 shares. The stock had previously closed at $23.17.
Analysts Set New Price Targets
A number of analysts have recently issued reports on M shares. Evercore ISI lifted their price objective on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a report on Friday, December 5th. BTIG Research began coverage on Macy’s in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. UBS Group set a $21.00 target price on Macy’s in a report on Thursday, December 4th. Cowen restated a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. Finally, Zacks Research raised shares of Macy’s from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.50.
Check Out Our Latest Analysis on Macy’s
Macy’s Price Performance
The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 12.96 and a beta of 1.43. The business has a 50 day simple moving average of $21.89 and a 200-day simple moving average of $17.47. 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 posted its earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, beating 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 company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the company earned $0.04 earnings per share. The company’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. Equities research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.
Macy’s Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were issued a $0.1824 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.73 annualized dividend and a dividend yield of 3.3%. Macy’s’s dividend payout ratio is currently 43.20%.
Insider Buying and Selling at Macy’s
In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were 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 directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.77% of the stock is owned by insiders.
Hedge Funds Weigh In On Macy’s
A number of institutional investors and hedge funds have recently added to or reduced their stakes in M. Cullen Frost Bankers Inc. bought a new stake in Macy’s during the 3rd quarter valued at $31,000. Bessemer Group Inc. grew its position in shares of Macy’s by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after purchasing an additional 592 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Macy’s by 101.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock valued at $41,000 after purchasing an additional 1,162 shares during the period. UMB Bank n.a. lifted its holdings in Macy’s by 523.0% during the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock worth $37,000 after purchasing an additional 2,662 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Macy’s by 28.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock worth $57,000 after purchasing an additional 1,087 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.