Macy's - M Stock Forecast, Price & News

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Macy's in the last year. There are currently 2 sell ratings, 5 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research 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 analysts have issued 12 month price targets for Macy's' shares. Their M share price forecasts range from $15.00 to $30.00. On average, they anticipate the company's share price to reach $24.27 in the next year. This suggests a possible upside of 43.3% 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 18.0% and is now trading at $16.94.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, May 25th 2023.
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Macy's, Inc. (NYSE:M) announced its earnings results on Thursday, March, 2nd. The company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.31. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.27 billion. Macy's had a trailing twelve-month return on equity of 35.06% and a net margin of 4.82%. The firm's quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 EPS.

Macy's announced a quarterly dividend on Friday, February 24th. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.1654 per share on Monday, April 3rd. This represents a $0.66 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, March 14th. This is a boost from the stock's previous quarterly dividend of $0.16.
Read our dividend analysis for M.

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

Macy's (NYSE:M) pays an annual dividend of $0.66 per share and currently has a dividend yield of 3.53%. 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 15.75%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, M will have a dividend payout ratio of 16.97% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for M.

Macy's declared that its board has approved a share repurchase plan on Tuesday, February 22nd 2022, which authorizes the company to repurchase $2,000,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Macy's updated its FY 2023 earnings guidance on Thursday, March, 2nd. The company provided EPS guidance of $3.67-$4.11 for the period, compared to the consensus EPS estimate of $4.20. The company issued revenue guidance of $23.70 billion-$24.20 billion, compared to the consensus revenue estimate of $24.49 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 number of retail and institutional investors. Top institutional investors include Arrowstreet Capital Limited Partnership (3.90%), Dimensional Fund Advisors LP (3.66%), Newport Trust Co (2.87%), Appaloosa LP (2.19%), Susquehanna International Group LLP (0.00%) and AQR Capital Management LLC (1.52%). Insiders that own company stock include Adrian V Mitchell, Antony Spring, C Elisa D Garcia, Danielle L Kirgan, Felicia Williams, 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 $16.94.

Macy's (NYSE:M) has a market capitalization of $4.59 billion and generates $24.44 billion in revenue each year. The company earns $1.18 billion in net income (profit) each year or $4.19 on an earnings per share basis.

The company employs 88,857 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.