Macy’s (NYSE:M) Stock Price Down 3.9% Following Analyst Downgrade

Shares of Macy’s, Inc. (NYSE:M) dropped 3.9% on Monday after Wall Street Zen downgraded the stock from a strong-buy rating to a buy rating. The stock traded as low as $22.95 and last traded at $22.9070. 2,400,853 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 7,690,005 shares. The stock had previously closed at $23.83.

Other research analysts also recently issued research reports about the stock. Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Guggenheim initiated coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. Morgan Stanley increased their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, December 5th. Telsey Advisory Group lifted 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, Weiss Ratings restated a “hold (c+)” rating on shares of Macy’s in a report on Monday, December 8th. Two 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.50.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 51,161 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

A number of institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Macy’s during the third quarter valued at about $31,000. UMB Bank n.a. boosted its holdings in Macy’s by 523.0% in the second quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock valued at $37,000 after purchasing an additional 2,662 shares during the last quarter. Bessemer Group Inc. boosted its holdings in 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 during the last quarter. Hantz Financial Services Inc. grew its stake in 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 in the last quarter. Finally, Fifth Third Bancorp increased 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 during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Performance

The stock has a 50-day simple moving average of $20.79 and a 200-day simple moving average of $16.38. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 13.57 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 0.18 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, topping analysts’ consensus estimates of ($0.13) by $0.22. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, December 15th. Macy’s’s dividend payout ratio is 43.20%.

Macy’s Company Profile

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.