Morgan Stanley Forecasts Strong Price Appreciation for Macy’s (NYSE:M) Stock

Macy’s (NYSE:M) had its target price boosted by analysts at Morgan Stanley from $20.00 to $21.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 5.79% from the stock’s previous close.

A number of other research analysts also recently commented on M. Wall Street Zen downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Citigroup increased their price objective on shares of Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Macy’s from $14.50 to $16.50 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Jefferies Financial Group upped their target price on shares of Macy’s from $18.50 to $26.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.75.

Macy’s Stock Down 0.8%

M opened at $22.29 on Friday. The company has a market capitalization of $5.99 billion, a PE ratio of 13.19 and a beta of 1.44. The firm has a 50-day simple moving average of $19.47 and a two-hundred day simple moving average of $15.36. The company has a quick ratio of 0.35, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. Macy’s has a 52 week low of $9.76 and a 52 week high of $23.27.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, topping 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 company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Paul Griscom sold 12,843 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $17.26, for a total transaction of $221,670.18. Following the transaction, the senior vice president owned 23,379 shares of the company’s stock, valued at approximately $403,521.54. This represents a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Danielle L. Kirgan sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $17.75, for a total value of $1,775,000.00. Following the completion of the sale, the executive vice president owned 136,161 shares in the company, valued at approximately $2,416,857.75. The trade was a 42.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently bought and sold shares of M. Summit Securities Group LLC increased its stake in Macy’s by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock worth $28,000 after purchasing an additional 38,800 shares during the period. Headlands Technologies LLC bought a new position in shares of Macy’s in the first quarter worth about $29,000. Cullen Frost Bankers Inc. bought a new position in shares of Macy’s in the third quarter worth about $31,000. UMB Bank n.a. increased its stake in Macy’s by 523.0% in the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock worth $37,000 after buying an additional 2,662 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after buying an additional 592 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

About Macy’s

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.