Macy’s (NYSE:M) Releases Quarterly Earnings Results

Macy’s (NYSE:M) announced its quarterly earnings data on Wednesday. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.22, Zacks reports. Macy’s had a net margin of 2.18% and a return on equity of 15.39%. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Macy’s updated its FY 2025 guidance to 2.000-2.20 EPS.

Macy’s Stock Down 0.5%

Shares of NYSE M opened at $22.71 on Wednesday. The stock has a fifty day moving average price of $19.27 and a 200 day moving average price of $15.26. The company has a market cap of $6.10 billion, a P/E ratio of 12.97 and a beta of 1.83. Macy’s has a 12-month low of $9.76 and a 12-month high of $23.15. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.55.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a dividend of $0.1824 per share. The ex-dividend date is Monday, December 15th. This represents a $0.73 annualized dividend and a dividend yield of 3.2%. Macy’s’s payout ratio is presently 41.71%.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 100,000 shares of Macy’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.75, for a total transaction of $1,775,000.00. Following the sale, the executive vice president owned 136,161 shares in the company, valued at $2,416,857.75. This trade represents a 42.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul Griscom sold 12,843 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were 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 of the company’s stock, valued at $403,521.54. This trade represents a 35.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 212,843 shares of company stock valued at $3,726,670. 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 added to or reduced their stakes in M. Entropy Technologies LP acquired a new stake in shares of Macy’s during the third quarter valued at about $1,020,000. Boothbay Fund Management LLC purchased a new position in Macy’s in the third quarter valued at about $610,000. Rafferty Asset Management LLC grew its stake in Macy’s by 27.8% during the 2nd quarter. Rafferty Asset Management LLC now owns 34,411 shares of the company’s stock valued at $401,000 after purchasing an additional 7,487 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in Macy’s during the 3rd quarter worth approximately $365,000. Finally, Sei Investments Co. raised its position in shares of Macy’s by 32.1% in the 2nd quarter. Sei Investments Co. now owns 29,546 shares of the company’s stock valued at $344,000 after purchasing an additional 7,181 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on M shares. Telsey Advisory Group upped their target price on Macy’s from $17.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Macy’s in a research report on Monday. UBS Group lifted their price target on shares of Macy’s from $6.50 to $7.00 and gave the company a “sell” rating in a report on Monday. BTIG Research began coverage on shares of Macy’s in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Finally, Citigroup lifted their target price on Macy’s from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.30.

Macy’s Company Profile

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.