Citigroup Issues Positive Forecast for Macy’s (NYSE:M) Stock Price

Macy’s (NYSE:M) had its target price lifted by Citigroup from $19.00 to $24.00 in a research note published on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on M. Morgan Stanley boosted their price target on shares of Macy’s from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 18th. Barclays lifted their price objective on shares of Macy’s from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 4th. BTIG Research began coverage on shares of Macy’s in a research report on Tuesday, October 14th. They set a “neutral” rating on the stock. UBS Group set a $21.00 price target on shares of Macy’s in a report on Thursday. Finally, Cowen reissued a “hold” rating on shares of Macy’s in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.25.

Macy’s Price Performance

NYSE:M opened at $22.29 on Thursday. The business’s 50-day moving average is $19.47 and its 200 day moving average is $15.36. Macy’s has a 12 month low of $9.76 and a 12 month high of $23.27. The company has a market capitalization of $5.99 billion, a P/E ratio of 13.19 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 0.35 and a debt-to-equity ratio of 0.56.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.22. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, equities research analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $0.1824 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.73 annualized dividend and a yield of 3.3%. Macy’s’s dividend payout ratio (DPR) is presently 41.71%.

Insider Buying and Selling

In related news, SVP Paul Griscom sold 12,843 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $17.26, for a total transaction of $221,670.18. Following the completion of the transaction, the senior vice president owned 23,379 shares in the company, valued at $403,521.54. The trade was a 35.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Danielle L. Kirgan sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $17.75, for a total value of $1,775,000.00. Following the completion of the transaction, the executive vice president directly owned 136,161 shares in the company, valued at $2,416,857.75. This trade represents a 42.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

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

About Macy’s

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.