Macy’s (NYSE:M) Shares Gap Down – Here’s Why

Macy’s, Inc. (NYSE:M) shares gapped down prior to trading on Thursday . The stock had previously closed at $21.51, but opened at $20.25. Macy’s shares last traded at $20.9070, with a volume of 4,430,140 shares traded.

Key Macy’s News

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Macy’s reported second-quarter results ahead of Wall Street expectations, with earnings of approximately $0.63 per share versus the $0.37 consensus estimate and revenue of about $5.06 billion. Sales increased 1.1% year over year, while comparable sales continued to improve across the company’s nameplates. Macy’s raises annual profit forecast on tariff refunds, quarterly sales beat
• Positive Sentiment: The company raised its fiscal 2026 outlook, calling for EPS of $2.15 to $2.35 versus the roughly $2.11 analyst consensus. Revenue guidance was increased to approximately $21.7 billion to $21.8 billion, above expectations near $21.1 billion. Macy’s posts strong results, raises guidance as turnaround begins to take hold
• Positive Sentiment: The results suggest Macy’s turnaround is gaining traction, with continued growth across its Macy’s, Bloomingdale’s and Bluemercury nameplates and relatively steady consumer spending. Macy’s Reports Strong Second Quarter 2026 Results
• Neutral Sentiment: Unusually heavy call-option activity before the report indicated elevated speculative interest, but it does not establish a lasting fundamental trend.
• Negative Sentiment: Third-quarter EPS guidance of negative $0.23 to negative $0.19 was below the consensus estimate of negative $0.12, even though projected revenue was broadly in line. The weaker near-term outlook appears to be the primary reason the stock declined after the report.
• Negative Sentiment: Investors may be discounting the quality of the full-year profit increase because tariff refunds contributed to the quarter and may not be recurring. This tempered the positive impact of the earnings beat and raised annual guidance. Macy’s Beats Earnings Estimates and Boosts Guidance

Analyst Ratings Changes

M has been the subject of several analyst reports. Wall Street Zen downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Evercore set a $22.00 price target on Macy’s in a report on Thursday, June 4th. Zacks Research upgraded Macy’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. UBS Group boosted their price objective on Macy’s from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on Macy’s from $21.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and an average target price of $22.78.

Macy’s Trading Down 3.7%

The stock’s 50 day simple moving average is $23.55 and its 200 day simple moving average is $21.44. The firm has a market cap of $5.45 billion, a PE ratio of 8.59 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.44 and a current ratio of 1.48.

Macy’s (NYSE:M) last released its earnings results on Thursday, September 10th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.26. Macy’s had a return on equity of 13.68% and a net margin of 2.94%.The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the company posted $0.41 EPS. Macy’s’s quarterly revenue was up 1.1% compared to the same quarter last year. 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. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.22 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Macy’s’s dividend payout ratio is currently 31.82%.

Insider Buying and Selling

In other news, EVP Thomas Edwards, Jr. sold 16,419 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total value of $408,668.91. Following the completion of the transaction, the executive vice president owned 20,000 shares of the company’s stock, valued at approximately $497,800. This represents a 45.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $25.63, for a total value of $258,273.51. Following the transaction, the senior vice president directly owned 25,373 shares of the company’s stock, valued at $650,309.99. This represents a 28.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its holdings in shares of Macy’s by 19.5% during the second quarter. Sequoia Financial Advisors LLC now owns 38,689 shares of the company’s stock valued at $911,000 after purchasing an additional 6,310 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Macy’s in the 2nd quarter worth $735,000. IFP Advisors Inc increased its position in Macy’s by 559.1% during the second quarter. IFP Advisors Inc now owns 10,229 shares of the company’s stock valued at $241,000 after acquiring an additional 8,677 shares during the last quarter. Allworth Financial LP increased its position in Macy’s by 37.0% during the second quarter. Allworth Financial LP now owns 2,270 shares of the company’s stock valued at $53,000 after acquiring an additional 613 shares during the last quarter. Finally, Nykredit A S purchased a new position in Macy’s in the second quarter worth about $69,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

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.