Macy’s (NYSE:M) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Macy’s (NYSE:M) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Telsey Advisory Group lifted their target price on shares of Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a research note on Monday, December 29th. Morgan Stanley lifted their price objective 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. BTIG Research initiated coverage on shares of Macy’s in a research note on Tuesday, October 14th. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group initiated coverage on shares of Macy’s in a research report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $20.50.

Macy’s Trading Up 2.3%

Shares of M stock opened at $21.71 on Monday. Macy’s has a 12-month low of $9.76 and a 12-month high of $24.41. The firm has a 50-day moving average price of $22.17 and a 200 day moving average price of $18.54. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $5.77 billion, a P/E ratio of 12.85 and a beta of 1.50.

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 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 firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the firm posted $0.04 EPS. The business’s revenue was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Research analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In other 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently modified their holdings of the stock. Strengthening Families & Communities LLC purchased a new position in Macy’s in the fourth quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in Macy’s during the 4th quarter worth about $29,000. Cullen Frost Bankers Inc. bought a new position in shares of Macy’s during the third quarter valued at approximately $31,000. Bessemer Group Inc. increased its holdings in shares of Macy’s by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after acquiring an additional 592 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in shares of Macy’s by 101.1% during the third quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock valued at $41,000 after buying an additional 1,162 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.