Telsey Advisory Group Increases Macy’s (NYSE:M) Price Target to $15.00

Macy’s (NYSE:M) had its price target boosted by Telsey Advisory Group from $14.00 to $15.00 in a report published on Friday, Benzinga reports. They currently have a market perform rating on the stock. Telsey Advisory Group also issued estimates for Macy’s’ Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.29 EPS, Q4 2025 earnings at $2.01 EPS and FY2025 earnings at $3.10 EPS.

A number of other equities analysts have also issued reports on M. Morgan Stanley dropped their target price on shares of Macy’s from $23.00 to $15.00 and set an equal weight rating on the stock in a research report on Monday, August 7th. Evercore ISI started coverage on shares of Macy’s in a research note on Tuesday, November 7th. They issued an inline rating and a $13.00 price objective on the stock. Citigroup lowered their target price on shares of Macy’s from $15.00 to $13.00 and set a neutral rating for the company in a research note on Wednesday, August 23rd. Bank of America lowered their target price on shares of Macy’s from $13.00 to $12.00 and set an underperform rating for the company in a research note on Wednesday, August 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Macy’s from $23.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $15.00.

Macy’s Stock Performance

Macy’s stock opened at $14.97 on Friday. The firm’s 50 day simple moving average is $11.59 and its 200-day simple moving average is $13.81. The company has a market cap of $4.09 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 0.38 and a beta of 1.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.26 and a quick ratio of 0.27. Macy’s has a fifty-two week low of $10.54 and a fifty-two week high of $25.12.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, November 16th. The company reported $0.21 EPS for the quarter. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Macy’s had a net margin of 3.15% and a return on equity of 22.46%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. As a group, equities research analysts predict that Macy’s will post 2.78 EPS for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.1654 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio is currently 24.44%.

Institutional Investors Weigh In On Macy’s

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC bought a new position in shares of Macy’s in the fourth quarter worth approximately $26,000. CWM LLC boosted its stake in Macy’s by 53.8% in the second quarter. CWM LLC now owns 1,952 shares of the company’s stock worth $31,000 after buying an additional 683 shares in the last quarter. Quarry LP purchased a new stake in Macy’s in the first quarter worth approximately $33,000. Belpointe Asset Management LLC boosted its stake in Macy’s by 267.1% in the first quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock worth $34,000 after buying an additional 1,429 shares in the last quarter. Finally, Estabrook Capital Management boosted its stake in Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after buying an additional 700 shares in the last quarter. 82.69% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.