Macy's (NYSE:M) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Macy’s price target from $21 to $27 while keeping a neutral rating, implying about 15.85% upside from the current stock price.
• Macy’s latest quarter beat expectations, with EPS of $0.13 versus $0.02 expected and revenue of $4.89 billion versus $4.61 billion forecast; the company also lifted its FY26 outlook.
• Sentiment remains mixed: several analysts still rate the stock Hold or Sell, and the consensus view is Reduce, even as the shares jumped 6.9% to $23.31 on the day.

Macy's (NYSE:M - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $21.00 to $27.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 15.85% from the stock's current price.

Several other brokerages have also recently issued reports on M. Telsey Advisory Group upped their price objective on Macy's from $20.00 to $23.00 and gave the company a "market perform" rating in a research note on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a research note on Friday, March 27th. Zacks Research upgraded Macy's from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. UBS Group restated a "sell" rating on shares of Macy's in a research note on Thursday. Finally, Wall Street Zen cut Macy's from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $19.90.

Macy's Stock Up 6.9%

NYSE M traded up $1.51 on Thursday, hitting $23.31. 6,220,182 shares of the stock traded hands, compared to its average volume of 6,860,797. The stock has a 50-day moving average of $19.45 and a 200 day moving average of $20.53. Macy's has a twelve month low of $10.54 and a twelve month high of $24.41. The company has a market capitalization of $6.15 billion, a P/E ratio of 10.05 and a beta of 1.48. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.11. Macy's had a return on equity of 14.22% and a net margin of 2.84%.The firm had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.61 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Macy's's revenue for the quarter was up 1.8% compared to the same quarter last year. 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, analysts expect that Macy's will post 2.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Antony Spring sold 50,044 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the transaction, the chief executive officer owned 485,791 shares of the company's stock, valued at approximately $8,705,374.72. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the transaction, the executive vice president directly owned 28,773 shares of the company's stock, valued at approximately $515,612.16. This trade represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 94,967 shares of company stock worth $1,705,276. 1.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Macy's

Several hedge funds and other institutional investors have recently modified their holdings of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 acquiring an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 acquiring an additional 55,821 shares during the period. Focus Partners Wealth increased 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 acquiring an additional 14,489 shares during the period. Cetera Investment Advisers increased its position in Macy's by 49.6% in the 2nd quarter. Cetera Investment Advisers now owns 24,300 shares of the company's stock valued at $283,000 after acquiring an additional 8,053 shares during the period. Finally, Invesco Ltd. increased its position in Macy's by 160.5% in the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock valued at $49,941,000 after acquiring an additional 2,639,132 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Key Macy's News

Here are the key news stories impacting Macy's this week:

• Positive Sentiment: Macy’s beat Q1 earnings and revenue estimates, with EPS of $0.13 versus $0.02 expected and revenue of $4.89 billion versus $4.61 billion forecast, helping support the stock. Business Wire article
• Positive Sentiment: Comparable sales rose 3% year over year, the company’s best first-quarter comps growth in four years, suggesting improving customer demand and execution. CNBC article
• Positive Sentiment: The company raised its FY26 guidance for sales, comparable sales and adjusted EPS, signaling management sees continued momentum from its “Bold New Chapter” turnaround strategy. WSJ article
• Positive Sentiment: Bloomingdale’s and higher-end merchandise are driving stronger performance, which is encouraging investors that Macy’s premium and luxury initiatives are working. WSJ article
• Positive Sentiment: Heavy call-option buying points to bullish sentiment in the options market, with traders positioning for further upside.
• Neutral Sentiment: Telsey Advisory Group raised its price target to $23 from $20 but kept a “market perform” rating, suggesting the stock may be near fair value. The Fly article
• Neutral Sentiment: Berkshire Hathaway’s newly disclosed stake has added attention to the name, though it appears more like validation of the turnaround than a direct catalyst. Motley Fool article

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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