Macy’s (NYSE:M) PT Raised to $15.00 at Telsey Advisory Group

Macy’s (NYSE:M) had its target price lifted by investment analysts at Telsey Advisory Group from $14.00 to $15.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 3.88% from the company’s current price. Telsey Advisory Group also issued estimates for Macy’s’ Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.29 EPS, Q4 2025 earnings at $2.01 EPS and FY2025 earnings at $3.10 EPS.

M has been the subject of several other research reports. Gordon Haskett downgraded shares of Macy’s from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a research note on Wednesday, September 27th. The Goldman Sachs Group dropped their price target on shares of Macy’s from $23.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Morgan Stanley lowered their target price on shares of Macy’s from $23.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. StockNews.com began coverage on shares of Macy’s in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, UBS Group lowered their target price on shares of Macy’s from $12.00 to $10.00 and set a “sell” rating for the company in a research note on Wednesday, August 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.00.

Macy’s Stock Up 8.3 %

M stock opened at $14.44 on Friday. The firm has a market cap of $3.95 billion, a PE ratio of 5.35, a PEG ratio of 0.38 and a beta of 1.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 1.26. The firm’s 50 day moving average price is $11.52 and its 200-day moving average price is $13.82. Macy’s has a one year low of $10.54 and a one year high of $25.12.

Macy’s (NYSE:M) last posted its earnings results on Thursday, November 16th. The company reported $0.21 earnings per share for the quarter. Macy’s had a net margin of 3.15% and a return on equity of 22.46%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Macy’s will post 2.78 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Macy’s by 5.7% during the first quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock worth $744,202,000 after purchasing an additional 1,642,941 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Macy’s by 15.4% during the second quarter. Dimensional Fund Advisors LP now owns 12,037,380 shares of the company’s stock worth $193,201,000 after purchasing an additional 1,605,605 shares in the last quarter. State Street Corp raised its holdings in Macy’s by 10.3% during the second quarter. State Street Corp now owns 11,241,180 shares of the company’s stock worth $182,203,000 after purchasing an additional 1,050,825 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Macy’s by 1,054.0% during the second quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after purchasing an additional 9,906,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Macy’s by 27.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after buying an additional 2,155,936 shares during the period. 82.69% of the stock is owned by hedge funds and other institutional investors.

About Macy’s

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.