TD Cowen Initiates Coverage on Macy’s (NYSE:M)

Analysts at TD Cowen assumed coverage on shares of Macy’s (NYSE:M) in a note issued to investors on Friday, Zacks reports. The firm set a “hold” rating on the stock.

A number of other research analysts have also issued reports on M. Zacks Research lowered shares of Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 11th. Wall Street Zen downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. BTIG Research reissued a “neutral” rating on shares of Macy’s in a report on Friday, September 11th. UBS Group reissued a “sell” rating on shares of Macy’s in a report on Thursday, September 17th. Finally, Citigroup raised their target price on Macy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and a consensus price target of $22.78.

Macy’s Price Performance

Shares of M opened at $24.11 on Friday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 8.83 and a beta of 1.44. Macy’s has a twelve month low of $16.69 and a twelve month high of $26.58. The company has a quick ratio of 0.48, a current ratio of 1.59 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $22.80 and a two-hundred day moving average of $21.68.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, September 10th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.26. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.81 billion. Macy’s had a return on equity of 13.21% and a net margin of 3.29%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Macy’s has set its Q3 2026 guidance at -0.230–0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. As a group, analysts predict that Macy’s will post 2.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in shares of Macy’s during the third quarter worth about $36,000. V Square Quantitative Management LLC increased its holdings in shares of Macy’s by 48.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,939 shares of the company’s stock worth $44,000 after acquiring an additional 632 shares during the period. Allworth Financial LP increased its holdings in shares of Macy’s by 37.0% in the 2nd quarter. Allworth Financial LP now owns 2,270 shares of the company’s stock worth $53,000 after acquiring an additional 613 shares during the period. CoreCap Advisors LLC lifted its position in Macy’s by 333.3% in the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the company’s stock valued at $61,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Nykredit A S bought a new stake in Macy’s in the 2nd quarter valued at about $69,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Macy’s

Macy’s, Inc (NYSE: M) is an American omnichannel retailer that operates department stores and e-commerce businesses. Its merchandise includes apparel, accessories, beauty products, fragrances, home furnishings, jewelry, and other consumer goods.

The company operates through three primary retail brands: Macy’s, Bloomingdale’s, and Bluemercury. Macy’s serves a broad customer base with fashion, beauty, and home products, while Bloomingdale’s focuses on premium and luxury merchandise. Bluemercury operates specialty beauty stores and provides skincare, cosmetics, and related services.

Founded in 1858 by Rowland Hussey Macy, the company has grown into one of the best-known department-store retailers in the United States.