Macy’s (NYSE:M) Trading Down 7.9% – Here’s Why

Macy’s, Inc. (NYSE:M)’s share price fell 7.9% during mid-day trading on Monday . The company traded as low as $20.75 and last traded at $20.6470. 1,689,876 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 6,565,672 shares. The stock had previously closed at $22.41.

Analyst Ratings Changes

A number of analysts have issued reports on M shares. Guggenheim started coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. TD Cowen reiterated a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Morgan Stanley raised their price objective on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, December 5th. Jefferies Financial Group started coverage on Macy’s in a research report on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price for the company. Finally, Zacks Research lowered Macy’s from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $20.50.

Macy’s Stock Performance

The company has a 50 day simple moving average of $21.79 and a 200 day simple moving average of $19.50. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 12.01 and a beta of 1.50.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.22. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, equities research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Insider Activity at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the sale, the executive vice president directly owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strengthening Families & Communities LLC bought a new position in shares of Macy’s during the 4th quarter worth about $28,000. V Square Quantitative Management LLC acquired a new position in Macy’s during the fourth quarter worth $29,000. Cullen Frost Bankers Inc. bought a new position in Macy’s in the 3rd quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its position in shares of Macy’s by 51.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after buying an additional 526 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds 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.