Macy's (NYSE:M) Reaches New 12-Month High - Here's What Happened

Key Points

• Macy’s shares reached a new 52-week high of $26.10, up from a previous close of $24.82, giving the company a market capitalization of approximately $6.83 billion.
• The retailer reported quarterly EPS of $0.13, beating the $0.02 consensus estimate, while revenue of $4.89 billion exceeded expectations and increased 1.8% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $21.70. Macy’s also pays a quarterly dividend of $0.1915, equivalent to an annualized yield of about 2.9%.

Macy's, Inc. (NYSE:M - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $26.10 and last traded at $26.0840, with a volume of 2694225 shares changing hands. The stock had previously closed at $24.82.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Telsey Advisory Group boosted their price objective on Macy's from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Thursday, June 4th. Evercore set a $22.00 target price on shares of Macy's in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Macy's from $21.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. UBS Group reissued a "sell" rating on shares of Macy's in a research note on Thursday, June 4th. Finally, Citigroup increased their price target on shares of Macy's from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Macy's has an average rating of "Hold" and a consensus price target of $21.70.

Macy's Stock Performance

The company has a market cap of $6.83 billion, a P/E ratio of 10.76 and a beta of 1.47. The company's fifty day moving average is $23.53 and its 200 day moving average is $21.02. The company has a current ratio of 1.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.50.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.11. Macy's had a net margin of 2.94% and a return on equity of 13.68%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. Macy's has set its Q2 2026 guidance at 0.290-0.340 EPS and its FY 2026 guidance at 2.000-2.200 EPS. As a group, equities analysts predict that Macy's, Inc. will post 2.19 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. Macy's's payout ratio is 31.82%.

Insider Activity at Macy's

In other Macy's news, EVP Thomas Jr. Edwards sold 16,419 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total value of $408,668.91. Following the completion of the sale, the executive vice president owned 20,000 shares in the company, valued at approximately $497,800. The trade was a 45.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $25.63, for a total transaction of $258,273.51. Following the completion of the transaction, the senior vice president owned 25,373 shares in the company, valued at $650,309.99. This represents a 28.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.05% of the company's stock.

Hedge Funds Weigh In On Macy's

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new position in Macy's during the 4th quarter valued at approximately $3,524,000. Intech Investment Management LLC grew its position in shares of Macy's by 540.1% in the 4th quarter. Intech Investment Management LLC now owns 125,154 shares of the company's stock worth $2,760,000 after buying an additional 105,601 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Macy's during the fourth quarter valued at approximately $2,752,000. Lisanti Capital Growth LLC bought a new position in shares of Macy's during the fourth quarter valued at approximately $3,111,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Macy's during the fourth quarter valued at approximately $4,598,000. 87.36% of the stock is owned by institutional investors.

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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