Macy's (NYSE:M) Sets New 52-Week High - What's Next?

Key Points

• Macy's stock reached a new 52-week high of $18.13 during trading, with a closing price of $18.09 and a volume of over 2.3 million shares.
• Analysts have raised their price targets for Macy's, with Zacks upgrading to "strong-buy" and Jefferies increasing their target to $18.50.
• The company reported Q2 earnings per share of $0.41, significantly surpassing expectations, but announced a revenue decline of 2.5% compared to the previous year.

Macy's, Inc. (NYSE:M - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $18.13 and last traded at $18.09, with a volume of 2374129 shares. The stock had previously closed at $18.00.

Analysts Set New Price Targets

M has been the subject of a number of recent research reports. Zacks Research raised shares of Macy's from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 18th. UBS Group lifted their price objective on shares of Macy's from $6.00 to $6.50 and gave the stock a "sell" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. lifted their price objective on shares of Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $17.00 price target (up from $14.00) on shares of Macy's in a research note on Wednesday, September 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Macy's from $14.50 to $18.50 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.25.

Macy's Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.35 and a current ratio of 1.38. The firm's 50 day moving average is $14.45 and its 200-day moving average is $12.80. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 10.43 and a beta of 1.78.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.22. Macy's had a net margin of 2.18% and a return on equity of 15.39%. The firm had revenue of $4.81 billion during the quarter, compared to analysts' expectations of $4.69 billion. During the same period in the previous year, the business posted $0.53 EPS. The business's revenue was down 2.5% compared to the same quarter last year. Macy's has set its Q3 2025 guidance at -0.200--0.150 EPS. FY 2025 guidance at 1.700-2.050 EPS. Analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Dividend Announcement

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

Insider Transactions at Macy's

In other news, SVP Paul Griscom sold 12,843 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $17.26, for a total value of $221,670.18. Following the completion of the sale, the senior vice president directly owned 23,379 shares in the company, valued at $403,521.54. This represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Danielle L. Kirgan sold 100,000 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $17.75, for a total transaction of $1,775,000.00. Following the completion of the sale, the executive vice president owned 136,161 shares of the company's stock, valued at $2,416,857.75. This trade represents a 42.34% 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 over the last quarter. Company insiders own 2.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC boosted its stake in shares of Macy's by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after purchasing an additional 38,800 shares during the period. Headlands Technologies LLC purchased a new position in shares of Macy's in the first quarter valued at approximately $29,000. UMB Bank n.a. boosted its stake in shares of Macy's by 523.0% in the second quarter. UMB Bank n.a. now owns 3,171 shares of the company's stock valued at $37,000 after purchasing an additional 2,662 shares during the period. Fifth Third Bancorp boosted its stake in shares of Macy's by 28.7% in the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock valued at $57,000 after purchasing an additional 1,087 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Macy's by 116.2% in the second quarter. GAMMA Investing LLC now owns 7,590 shares of the company's stock valued at $88,000 after purchasing an additional 4,080 shares during the period. Hedge funds and other 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.

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