Macy’s (NYSE:M) Stock Rating Lowered by Zacks Research

Macy’s (NYSE:M) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

M has been the subject of a number of other research reports. UBS Group set a $21.00 price objective on Macy’s in a research report on Thursday, December 4th. Citigroup upped their target price on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Guggenheim assumed coverage on shares of Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Jefferies Financial Group started coverage on shares of Macy’s in a report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $20.50.

Macy’s Trading Up 0.1%

Shares of M stock opened at $21.22 on Monday. The firm has a market capitalization of $5.64 billion, a P/E ratio of 12.56 and a beta of 1.50. Macy’s has a 1 year low of $9.76 and a 1 year high of $24.41. The firm’s fifty day simple moving average is $22.18 and its 200 day simple moving average is $18.52. 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 posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.22. The company had revenue of $4.91 billion for 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 revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, sell-side analysts predict that Macy’s will post 2.39 EPS for the current year.

Insider Buying and Selling at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares in the company, valued at $1,223,771.12. This trade represents a 62.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in M. Norges Bank acquired a new stake in shares of Macy’s in the 2nd quarter valued at $58,743,000. Schroder Investment Management Group boosted its holdings in Macy’s by 104.5% in the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock valued at $112,260,000 after acquiring an additional 4,920,821 shares during the last quarter. Invesco Ltd. increased its position 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 period. Hennessy Advisors Inc. bought a new stake in Macy’s during the 3rd quarter worth about $44,362,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Macy’s by 107.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,253,538 shares of the company’s stock valued at $49,596,000 after purchasing an additional 2,203,874 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.