Macy’s (NYSE:M) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $27.00 target price on the stock.

A number of other research analysts have also weighed in on M. Zacks Research upgraded Macy’s from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 18th. UBS Group set a $21.00 price target on Macy’s in a report on Thursday, December 4th. Evercore ISI upped their price objective on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a report on Friday, December 5th. BTIG Research assumed coverage on Macy’s in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Finally, Wall Street Zen upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Macy’s Trading Down 3.7%

Shares of M opened at $21.19 on Wednesday. The firm has a market cap of $5.63 billion, a P/E ratio of 12.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy’s has a 1 year low of $9.76 and a 1 year high of $24.41. The company has a 50 day simple moving average of $21.99 and a two-hundred day simple moving average of $17.65.

Macy’s (NYSE:M) last issued its 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 firm had revenue of $4.91 billion during 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 for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 earnings per share. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, equities analysts expect that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.73 annualized dividend and a dividend yield of 3.4%. Macy’s’s payout ratio is currently 43.20%.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s 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 $1,223,771.12. This trade represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Macy’s

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Macy’s in the 2nd quarter worth about $58,743,000. Schroder Investment Management Group raised its position in Macy’s by 104.5% in the 2nd quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock worth $112,260,000 after purchasing an additional 4,920,821 shares during the period. Invesco Ltd. lifted its stake in Macy’s by 160.5% in the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after purchasing an additional 2,639,132 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Macy’s during the third quarter valued at approximately $44,362,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Macy’s by 107.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,253,538 shares of the company’s stock valued at $49,596,000 after buying an additional 2,203,874 shares during the last quarter. Hedge funds and other 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.