Macy's (NYSE:M) Reaches New 12-Month High - What's Next?

Key Points

• Macy's shares reached a new 52-week high of $18.47, with the last trading price at $18.30 and a volume of approximately 1.9 million shares.
• Analysts have raised their price targets for Macy's, with Goldman Sachs setting a new target of $16.50 and several others aligning around a consensus target of $15.45.
• The company recently announced a quarterly dividend of $0.1824 per share, representing a 4.0% dividend yield and reflecting a payout ratio of 41.71%.

Shares of Macy's, Inc. (NYSE:M - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $18.47 and last traded at $18.30, with a volume of 1936010 shares changing hands. The stock had previously closed at $17.98.

Analysts Set New Price Targets

M has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on Macy's from $14.50 to $16.50 and gave the company a "neutral" rating in a report on Monday, October 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Macy's in a research note on Wednesday, October 8th. Citigroup lifted their target price on shares of Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Morgan Stanley upped their price target on shares of Macy's from $12.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. raised their price target on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.45.

Macy's Trading Up 2.6%

The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 10.55 and a beta of 1.78. The business has a 50-day moving average of $16.13 and a two-hundred day moving average of $13.33.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.22. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.69 billion. Macy's had a return on equity of 15.39% and a net margin of 2.18%.The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS. Macy's has set its Q3 2025 guidance at -0.200--0.150 EPS. FY 2025 guidance at 1.700-2.050 EPS. Research analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, September 15th. Macy's's payout ratio is 41.71%.

Insider Activity

In related news, SVP Paul Griscom sold 12,843 shares of the firm'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 completion of the transaction, the senior vice president owned 23,379 shares in the company, valued at $403,521.54. This trade represents a 35.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 100,000 shares of Macy's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $17.30, for a total value of $1,730,000.00. Following the transaction, the executive vice president directly owned 286,161 shares of the company's stock, valued at approximately $4,950,585.30. The trade was a 25.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 212,843 shares of company stock valued at $3,726,670 in the last three months. Company insiders own 2.77% of the company's stock.

Hedge Funds Weigh In On Macy's

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ethic Inc. increased its holdings in shares of Macy's by 5.5% during the third quarter. Ethic Inc. now owns 16,825 shares of the company's stock worth $302,000 after buying an additional 883 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Macy's by 3.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 26,306 shares of the company's stock valued at $307,000 after purchasing an additional 907 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Macy's by 0.5% in the first quarter. Crossmark Global Holdings Inc. now owns 205,492 shares of the company's stock worth $2,581,000 after purchasing an additional 959 shares in the last quarter. Factorial Partners LLC grew its holdings in shares of Macy's by 0.9% during the first quarter. Factorial Partners LLC now owns 111,000 shares of the company's stock worth $1,394,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in Macy's by 3.2% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 32,500 shares of the company's stock worth $379,000 after buying an additional 1,000 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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