Stock Traders Purchase High Volume of Call Options on Macy’s (NYSE:M)

Macy’s, Inc. (NYSE:M) was the target of unusually large options trading activity on Tuesday. Traders purchased 31,443 call options on the stock. This is an increase of 53% compared to the typical daily volume of 20,604 call options.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BTIG Research began coverage on Macy’s in a research report on Tuesday, October 14th. They issued a “neutral” rating on the stock. Citigroup raised their price objective on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Zacks Research raised shares of Macy’s from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. Jefferies Financial Group increased their target price on shares of Macy’s from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.50.

Insider Activity at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’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 $1,223,771.12. This trade represents a 62.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macy’s

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Macy’s by 1.9% during the third quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock worth $481,000 after acquiring an additional 500 shares during the last quarter. Cambria Investment Management L.P. lifted its stake in shares of Macy’s by 4.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 12,066 shares of the company’s stock worth $216,000 after purchasing an additional 524 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Macy’s by 41.4% during the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after purchasing an additional 592 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Macy’s by 4.2% in the third quarter. Private Advisor Group LLC now owns 18,444 shares of the company’s stock valued at $331,000 after purchasing an additional 750 shares during the period. Finally, Certuity LLC increased its stake in Macy’s by 0.9% in the third quarter. Certuity LLC now owns 103,890 shares of the company’s stock valued at $1,863,000 after purchasing an additional 880 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Price Performance

M stock opened at $22.47 on Thursday. The stock’s 50 day moving average price is $21.73 and its 200 day moving average price is $17.25. The firm has a market cap of $5.97 billion, a P/E ratio of 13.29 and a beta of 1.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. Macy’s has a 1 year low of $9.76 and a 1 year high of $24.41.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, sell-side analysts expect that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, December 15th. Macy’s’s dividend payout ratio is 43.20%.

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.