Macy's (NYSE:M) Price Target Raised to $9.00 at UBS Group

Key Points

• UBS raised its price target on Macy's to $9.00 (from $8.00) while maintaining a sell rating, with the new target implying roughly a 48.6% downside from the stock's current price.
• Analyst coverage is mixed but skewed bearish — MarketBeat shows a consensus rating of Reduce and an average price target of $20, even as some firms (e.g., Jefferies at $27, Evercore at $21) have issued higher targets.
• Shares fell about 4.2% to $17.50 on the day; an executive sold 85,000 shares in December and institutional investors own roughly 87.4% of the company's stock.

Macy's (NYSE:M - Get Free Report) had its price target lifted by equities researchers at UBS Group from $8.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "sell" rating on the stock. UBS Group's target price suggests a potential downside of 48.57% from the stock's current price.

Several other analysts have also weighed in on the company. Evercore boosted their price objective on Macy's from $14.00 to $21.00 and gave the company a "cautious" rating in a report on Friday, December 5th. Guggenheim initiated coverage on Macy's in a research report on Tuesday, December 9th. They issued a "neutral" rating for the company. Wall Street Zen lowered Macy's from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Telsey Advisory Group lifted their price objective 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. Finally, Jefferies Financial Group initiated coverage on shares of Macy's in a report on Wednesday, January 14th. They set a "buy" rating and a $27.00 target price on the stock. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Macy's has a consensus rating of "Reduce" and an average price target of $20.00.

Macy's Stock Down 4.2%

Shares of Macy's stock traded down $0.77 during trading on Monday, reaching $17.50. The company had a trading volume of 4,660,544 shares, compared to its average volume of 6,957,290. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. Macy's has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. The firm's fifty day moving average is $21.27 and its 200-day moving average is $19.85. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 10.36 and a beta of 1.51.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business's stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the transaction, the executive vice president directly owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.77% of the company's stock.

Institutional Trading of Macy's

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Macy's by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,145,972 shares of the company's stock worth $356,020,000 after purchasing an additional 494,280 shares in the last quarter. RWC Asset Management LLP increased its holdings in shares of Macy's by 0.6% during the fourth quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company's stock valued at $241,782,000 after purchasing an additional 62,839 shares during the period. American Century Companies Inc. raised its stake in shares of Macy's by 6.6% during the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company's stock valued at $193,004,000 after purchasing an additional 669,729 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Macy's by 1.1% in the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company's stock worth $174,608,000 after purchasing an additional 110,548 shares during the period. Finally, State Street Corp lifted its holdings in Macy's by 0.5% in the second quarter. State Street Corp now owns 9,420,372 shares of the company's stock worth $111,547,000 after purchasing an additional 45,997 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.

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