The Goldman Sachs Group Issues Positive Forecast for Macy's (NYSE:M) Stock Price

Key Points

• Goldman Sachs has raised its price target for Macy's stock from $14.50 to $16.50, indicating a potential downside of 10.50% from its previous close, while maintaining a "neutral" rating.
• Other analysts have varying ratings on Macy's, with Jefferies setting a price target of $18.50 (buy rating) and Zacks upgrading their rating to "strong-buy," reflecting mixed sentiments about the stock.
• Macy's reported earnings of $0.41 per share, exceeding analysts' expectations, but experienced a revenue decline of 2.5% year-over-year, prompting revised guidance for Q3 and FY 2025.

Macy's (NYSE:M - Get Free Report) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $14.50 to $16.50 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price indicates a potential downside of 10.50% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group raised 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. Zacks Research raised shares of Macy's from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 18th. Morgan Stanley lifted their target price on Macy's from $12.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, September 18th. Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a report on Saturday, September 27th. Finally, UBS Group lifted their price target on shares of Macy's from $6.00 to $6.50 and gave the company a "sell" rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Macy's currently has a consensus rating of "Hold" and a consensus price target of $15.45.

Macy's Price Performance

NYSE M traded up $0.23 during mid-day trading on Monday, hitting $18.44. The stock had a trading volume of 3,249,098 shares, compared to its average volume of 7,787,226. The company has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $12.96. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 10.55 and a beta of 1.78. Macy's has a 52-week low of $9.76 and a 52-week high of $18.46. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.55.

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

Insiders Place Their Bets

In other Macy's news, SVP Paul Griscom sold 12,843 shares of Macy's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $17.26, for a total transaction of $221,670.18. Following the transaction, the senior vice president directly owned 23,379 shares in the company, valued at approximately $403,521.54. The trade was a 35.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Danielle L. Kirgan sold 100,000 shares of the business's stock in a transaction on 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 sale, the executive vice president directly owned 136,161 shares in the company, valued at approximately $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 have sold a total of 212,843 shares of company stock valued at $3,726,670 in the last quarter. Insiders own 2.77% of the company's stock.

Hedge Funds Weigh In On Macy's

Several institutional investors and hedge funds have recently bought and sold shares of M. Dimensional Fund Advisors LP lifted its position in Macy's by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,964,002 shares of the company's stock worth $200,510,000 after buying an additional 212,791 shares in the last quarter. American Century Companies Inc. grew its stake in Macy's by 16.0% in the second quarter. American Century Companies Inc. now owns 10,094,564 shares of the company's stock valued at $117,703,000 after purchasing an additional 1,395,030 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Macy's by 104.5% during the 2nd quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company's stock worth $112,260,000 after purchasing an additional 4,920,821 shares in the last quarter. State Street Corp increased its stake in shares of Macy's by 0.5% during the 2nd quarter. State Street Corp now owns 9,420,372 shares of the company's stock worth $111,547,000 after purchasing an additional 45,997 shares during the last quarter. Finally, Cooper Creek Partners Management LLC increased its holdings in shares of Macy's by 13.4% during the 2nd quarter. Cooper Creek Partners Management LLC now owns 7,395,091 shares of the company's stock valued at $86,227,000 after acquiring an additional 876,606 shares during the last quarter. 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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