Macy's (NYSE:M) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Macy's (NYSE:M - Get Free Report) issued its earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01, RTT News reports. The company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.38 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Macy's updated its FY 2025 guidance to 1.600-2.000 EPS.

Macy's Trading Down 0.5%

M traded down $0.06 during mid-day trading on Friday, hitting $11.88. 8,401,442 shares of the stock were exchanged, compared to its average volume of 6,444,572. The firm's fifty day moving average is $11.73 and its two-hundred day moving average is $14.06. Macy's has a 1-year low of $9.76 and a 1-year high of $20.47. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.31 billion, a PE ratio of 20.14 and a beta of 1.77.

Macy's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Friday, June 13th. Macy's's dividend payout ratio is presently 35.44%.

Insider Buying and Selling

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company's stock, valued at approximately $1,596,107.10. This represents a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the transaction, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. The trade was a 1.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,751 shares of company stock valued at $537,790. Corporate insiders own 2.77% of the company's stock.

Institutional Investors Weigh In On Macy's

A number of hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Macy's by 5.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company's stock valued at $14,019,000 after purchasing an additional 55,821 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Macy's by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company's stock valued at $2,047,000 after purchasing an additional 45,149 shares in the last quarter. Finally, Focus Partners Wealth raised its position in Macy's by 33.1% in the 1st quarter. Focus Partners Wealth now owns 58,197 shares of the company's stock valued at $731,000 after purchasing an additional 14,489 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on M. Benchmark upgraded Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Telsey Advisory Group dropped their target price on Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday. New Street Research set a $13.00 target price on Macy's in a report on Thursday, March 6th. UBS Group dropped their target price on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley reiterated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $13.20.

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.