Macy's (NYSE:M) Stock Rating Upgraded by Zacks Research

Key Points

• Macy's was upgraded by Zacks Research from a "strong sell" to a "hold," signaling a modest improvement in analyst sentiment.
• Overall analyst coverage remains cautious — one Buy, eleven Hold and two Sell — giving an average rating of "Reduce" and an average price target of $18.90.
• The company beat quarterly EPS and revenue estimates ($1.67 EPS on $7.92B revenue) despite a 1.7% year‑over‑year revenue decline, and the stock trades around $19 with a P/E of 8.23 and a $5.04B market cap.

Macy's (NYSE:M - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

M has been the subject of a number of other reports. Citigroup reduced their price objective on shares of Macy's from $24.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 19th. TD Cowen reduced their target price on shares of Macy's from $21.00 to $20.00 and set a "hold" rating for the company in a research report on Thursday, March 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Macy's in a research report on Friday, March 27th. Wall Street Zen cut shares of Macy's from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 23rd. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $22.00 target price on shares of Macy's in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $18.90.

Macy's Trading Down 0.7%

M stock opened at $19.09 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. The company has a fifty day moving average price of $19.35 and a two-hundred day moving average price of $20.25. Macy's has a one year low of $10.54 and a one year high of $24.41. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 8.23 and a beta of 1.51.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.12. Macy's had a net margin of 2.84% and a return on equity of 14.22%. The firm had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.48 billion. During the same period in the previous year, the business posted $1.80 earnings per share. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Macy's will post 2.39 EPS for the current year.

Insider Activity

In related news, CEO Antony Spring sold 50,044 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 485,791 shares of the company's stock, valued at $8,705,374.72. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the company's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $179,379.20. Following the sale, the executive vice president directly owned 108,008 shares of the company's stock, valued at $1,935,503.36. This represents a 8.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 94,967 shares of company stock worth $1,705,276. 1.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macy's

Several institutional investors and hedge funds have recently bought and sold shares of M. Strengthening Families & Communities LLC bought a new stake in Macy's during the fourth quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in Macy's during the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. acquired a new position in Macy's during the third quarter worth about $31,000. Smartleaf Asset Management LLC raised its stake in Macy's by 51.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company's stock worth $34,000 after acquiring an additional 526 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Macy's by 41.4% during the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock worth $37,000 after acquiring an additional 592 shares in the last quarter. Institutional investors own 87.36% of the company's stock.

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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