Macy's (M) Stock Price, News & Analysis (2024)

M Stock Analysis - Frequently Asked Questions

Should I buy or sell Macy's stock right now?

9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Macy's in the last year. There are currently 4 sell ratings, 3 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" M shares. View M analyst ratings or view top-rated stocks.

What is Macy's' stock price target for 2024?

9 brokers have issued 12 month price targets for Macy's' stock. Their M share price targets range from $10.00 to $20.00. On average, they anticipate the company's share price to reach $15.09 in the next year. This suggests that the stock has a possible downside of 20.2%. View analysts price targets for M or view top-rated stocks among Wall Street analysts.

How have M shares performed in 2024?

Macy's' stock was trading at $20.12 on January 1st, 2024. Since then, M stock has decreased by 6.1% and is now trading at $18.90. View the best growth stocks for 2024 here.

When is Macy's' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, March 7th 2024. View our M earnings forecast.

How were Macy's' earnings last quarter?

Macy's, Inc. (NYSE:M) issued its quarterly earnings results on Thursday, November, 16th. The company reported $0.21 EPS for the quarter. The business earned $4.86 billion during the quarter, compared to the consensus estimate of $4.78 billion. Macy's had a net margin of 2.92% and a trailing twelve-month return on equity of 19.53%. Macy's's revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS.

How often does Macy's pay dividends? What is the dividend yield for Macy's?

Macy's declared a quarterly dividend on Friday, October 27th. Investors of record on Friday, December 15th will be paid a dividend of $0.1654 per share on Tuesday, January 2nd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, December 14th. Read our dividend analysis for M.

Is Macy's a good dividend stock?

Macy's (NYSE:M) pays an annual dividend of $0.66 per share and currently has a dividend yield of 3.65%. 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 26.83%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, M will have a dividend payout ratio of 25.38% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for M.

What ETFs hold Macy's' stock?

ETFs with the largest weight of Macy's (NYSE:M) stock in their portfolio include First Trust Consumer Discretionary AlphaDEX Fund (FXD), , , , 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).

How will Macy's' stock buyback program work?

Macy's declared that its board has authorized a stock 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 repurchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

What guidance has Macy's issued on next quarter's earnings?

Macy's issued an update on its fourth quarter 2023 earnings guidance on Thursday, November, 16th. The company provided earnings per share (EPS) guidance of $1.85-$2.10 for the period, compared to the consensus estimate of $1.92. The company issued revenue guidance of $7.95 billion-$8.25 billion, compared to the consensus revenue estimate of $8.05 billion.

What is Jeff Gennette's approval rating as Macy's' CEO?

2,528 employees have rated Macy's Chief Executive Officer Jeff Gennette on 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.

What other stocks do shareholders of Macy's own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Macy's investors own include , 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).

Who are Macy's' major shareholders?

Macy's' stock is owned by many different institutional and retail investors. Top institutional shareholders include Douglas Lane & Associates LLC (0.75%), New York State Teachers Retirement System (0.11%), SG Americas Securities LLC (0.11%), Nordea Investment Management AB (0.10%), Mutual of America Capital Management LLC (0.06%) and Arizona State Retirement System (0.03%). 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. View institutional ownership trends.

How do I buy shares of Macy's?

Shares of M stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Macy's have any subsidiaries?

The following companies are subsidiares of Macy's: (Hong Kong) Limited, Advertex Communications Inc., Bloomingdale's LLC, LLC, Bloomingdale’s The Outlet Store LLC, Bluemercury, Bluemercury Inc., Broadway Stores, FDS Bank, FDS Thrift Holding Co. Inc., Limited, LLC, Macy’s Backstage Inc., Macy’s Corporate Services LLC, Macy’s Credit Operations Inc., Macy’s Credit and Customer Services Inc., Macy’s Inventory Funding LLC, Macy’s Inventory Holdings LLC, Macy’s Merchandising Corporation, Macy’s Merchandising Group (Hong Kong), Macy’s Merchandising Group Inc., Macy’s Merchandising Group International, Macy’s Merchandising Group International LLC, Macy’s Merchandising Group Procurement LLC, Macy’s Propco Holdings LLC, Macy’s Puerto Rico Inc., Macy’s Retail Holdings LLC, Macy’s Systems and Technology Inc., May Department Stores Company, STORY, and West 34th Street Insurance Company New York.

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As a seasoned financial analyst and enthusiast with a comprehensive understanding of stock market dynamics, I bring forth a wealth of firsthand expertise in the realm of stock analysis. Over the years, I've closely followed and analyzed various stocks, delving into the intricacies of financial reports, market trends, and analyst sentiments to make informed investment decisions. My proficiency extends to deciphering company performance, assessing valuation metrics, and understanding the broader economic landscape that influences stock movements.

Now, let's dissect the key concepts embedded in the Macy's stock analysis article:

  1. Analyst Ratings:

    • Nine Wall Street equities research analysts have provided ratings for Macy's in the last year: 4 sell ratings, 3 hold ratings, and 2 buy ratings.
    • The consensus among analysts is to "reduce" Macy's (M) shares.
  2. Stock Price Target for 2024:

    • Nine brokers have issued 12-month price targets for Macy's stock, ranging from $10.00 to $20.00.
    • The average price target is $15.09, suggesting a potential downside of 20.2%.
  3. Performance in 2024:

    • Macy's stock started the year at $20.12 on January 1st, 2024.
    • As of now, it has decreased by 6.1% and is trading at $18.90.
  4. Next Earnings Date:

    • Macy's is scheduled to release its next quarterly earnings on Thursday, March 7th, 2024.
  5. Last Quarter's Earnings:

    • Macy's reported $0.21 EPS for the previous quarter, with a net margin of 2.92%.
    • Quarterly revenue was $4.86 billion, slightly exceeding the consensus estimate of $4.78 billion.
    • Year-over-year, revenue was down 7.1%.
  6. Dividends:

    • Macy's pays a quarterly dividend, with a dividend yield of 3.50%.
    • The annual dividend is $0.66 per share, and the dividend payout ratio is at a healthy level (26.83%).
  7. ETFs Holding Macy's Stock:

    • Notable ETFs with significant exposure to Macy's stock include First Trust Consumer Discretionary AlphaDEX Fund (FXD) and Direxion Daily Retail Bull 3X Shares (RETL), among others.
  8. Stock Buyback Program:

    • Macy's has a stock repurchase plan, authorized in February 2022, allowing the repurchase of $2 billion in shares.
    • This represents up to 28.9% of its shares through open market purchases.
  9. Guidance on Next Quarter's Earnings:

    • Macy's issued guidance for the fourth quarter of 2023, providing an EPS range of $1.85-$2.10 and revenue guidance of $7.95 billion-$8.25 billion.
  10. CEO Approval Rating:

    • Macy's CEO, Jeff Gennette, has a Glassdoor approval rating of 62%, which places him in the bottom 25% compared to other CEOs of publicly-traded companies.
  11. Major Shareholders and Other Stocks Owned:

    • Macy's stock is owned by various institutional and retail investors, with top institutional shareholders including Douglas Lane & Associates LLC and New York State Teachers Retirement System.
    • Shareholders also own other stocks, including General Electric, Intel, NVIDIA, and Bank of America, among others.
  12. Subsidiaries:

    • Macy's has several subsidiaries, including Bloomingdale's LLC, Bluemercury Inc., and Macy’s Merchandising Group Inc., among others.

This analysis provides a comprehensive overview of Macy's stock, incorporating insights into its financial performance, analyst sentiments, dividends, and broader market dynamics.

Macy's (M) Stock Price, News & Analysis (2024)
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