Macy's (M) Stock Forecast, Price & News

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Macy's in the last twelve months. There are currently 3 sell ratings, 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" M shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in M, but not buy additional shares or sell existing shares.
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11 equities research analysts have issued 1 year price targets for Macy's' stock. Their M share price forecasts range from $10.00 to $23.00. On average, they expect the company's stock price to reach $16.00 in the next twelve months. This suggests a possible upside of 43.9% from the stock's current price.
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Macy's' stock was trading at $20.65 at the beginning of 2023. Since then, M shares have decreased by 46.2% and is now trading at $11.12.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, November 16th 2023.
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Macy's, Inc. (NYSE:M) issued its earnings results on Tuesday, August, 22nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.13. The firm earned $5.15 billion during the quarter, compared to analysts' expectations of $5.07 billion. Macy's had a trailing twelve-month return on equity of 22.46% and a net margin of 3.15%. The firm's revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS.

Macy's announced a quarterly dividend on Friday, August 25th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.1654 per share on Monday, October 2nd. This represents a $0.66 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from the stock's previous quarterly dividend of $0.17.
Read our dividend analysis for M.

ETFs with the largest weight of Macy's (NYSE:M) stock in their portfolio include First Trust Consumer Discretionary AlphaDEX Fund (FXD), SPDR S&P Retail ETF (XRT), Invesco S&P MidCap 400 Pure Value ETF (RFV), Invesco S&P MidCap 400 Revenue ETF (RWK), iShares Factors US Value Style ETF (STLV), Direxion Daily Retail Bull 3X Shares (RETL), Hartford Longevity Economy ETF (HLGE) and First Trust Mid Cap Value AlphaDEX Fund (FNK).

Macy's (NYSE:M) pays an annual dividend of $0.66 per share and currently has a dividend yield of 6.09%. M has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 24.44%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, M will have a dividend payout ratio of 23.66% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for M.

Macy's announced that its Board of Directors has approved a stock buyback program on Tuesday, February 22nd 2022, which authorizes the company to repurchase $2,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

Macy's issued an update on its third quarter 2023 earnings guidance on Wednesday, August, 23rd. The company provided earnings per share guidance of -$0.03-$0.02 for the period, compared to the consensus estimate of $0.26. The company issued revenue guidance of $4.75 billion-$4.85 billion, compared to the consensus revenue estimate of $4.88 billion.

2,528 employees have rated Macy's Chief Executive Officer Jeff Gennette on Glassdoor.com. Jeff Gennette has an approval rating of 62% among the company's employees. This puts Jeff Gennette in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Macy's investors own include AT&T (T), General Electric (GE), Intel (INTC), NVIDIA (NVDA), Micron Technology (MU), Netflix (NFLX), Bank of America (BAC), Ford Motor (F), Walt Disney (DIS) and Tesla (TSLA).

Macy's trades on the New York Stock Exchange (NYSE) under the ticker symbol "M."

Macy's' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (9.10%), Dimensional Fund Advisors LP (4.42%), State Street Corp (4.12%), Point72 Asset Management L.P. (3.98%), LSV Asset Management (2.07%) and Holocene Advisors LP (2.05%). Insiders that own company stock include Adrian V Mitchell, Antony Spring, C Elisa D Garcia, Danielle L Kirgan, Jeffrey Gennette, John T Harper, Paul C Varga and Paul Griscom.
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Shares of M stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of M stock can currently be purchased for approximately $11.12.

Macy's (NYSE:M) has a market capitalization of $3.04 billion and generates $24.44 billion in revenue each year. The company earns $1.18 billion in net income (profit) each year or $2.70 on an earnings per share basis.

The company employs 94,570 workers across the globe.

Macy's' mailing address is 151 WEST 34TH STREET, NEW YORK NY, 10001. The official website for the company is www.macysinc.com. The company can be reached via phone at (212) 494-1621, via email at investors@macys.com, or via fax at 212-494-1838.