TLDR
- Macy’s reports Q1 2027 earnings Wednesday, May 27, with analysts expecting $0.02 EPS and $4.61 billion in revenue.
- Last quarter, Macy’s beat estimates with $1.67 EPS and $7.92B revenue, though sales fell 1.7% year-over-year.
- Berkshire Hathaway disclosed a new stake in Macy’s, boosting investor optimism around the stock’s value.
- Analysts hold a “Reduce” consensus rating with a $18.90 price target; the stock currently trades around $19.10.
- Institutional investors have been buying in, with firms like Marshall Wace, Invesco, and Bridgewater all adding positions.
Macy’s is heading into its Q1 2027 earnings report with more eyes on it than usual. Berkshire Hathaway’s decision to take a new position in the retailer has sparked fresh interest. Investors will be watching closely when the company reports before the market opens on Wednesday, May 27.
Analysts expect Macy’s to post earnings of $0.02 per share. Revenue is projected at around $4.61 billion for the quarter.
Those numbers are modest compared to last quarter. In Q4, Macy’s beat expectations with $1.67 EPS against a $1.55 estimate, and revenue came in at $7.92 billion versus the $7.48 billion forecast.
Despite that beat, revenue was still down 1.7% from the same period a year earlier. The company had posted $1.80 EPS in the prior year quarter, showing a year-over-year decline in earnings as well.
For the full fiscal year, analysts currently expect Macy’s to post $2.00 EPS.
Berkshire Hathaway Adds a Stake
The biggest news around Macy’s recently has been Berkshire Hathaway disclosing a new position. That filing quickly drew attention, with many observers pointing to Macy’s real estate holdings and its Bloomingdale’s brand as possible reasons for the investment.
The stock has traded higher relative to the broader market since the Berkshire news broke. That has helped lift sentiment, even as Wall Street analysts remain cautious overall.
The stock opened at $19.10, above its 50-day moving average of $18.63. Its 12-month range runs from a low of $10.54 to a high of $24.41.
Analysts Stay Cautious
The overall analyst picture is mixed. Macy’s carries a consensus “Reduce” rating with a price target of $18.90.
JPMorgan Chase cut its target from $24 to $21 with a neutral rating. TD Cowen trimmed its target from $21 to $20, also holding a hold rating. UBS has a sell rating with a $9 target.
Zacks upgraded the stock from “strong sell” to “hold” in April. Out of 14 analysts covering the stock, one has a buy rating, eleven have holds, and two have sells.
Macy’s also declared a quarterly dividend of $0.1915 per share, payable July 1. That works out to a $0.77 annualized dividend and a yield of around 4%.
Institutional Buying Picks Up
Institutional investors have been adding to their Macy’s positions. Marshall Wace bought a new stake worth approximately $69.6 million. Bridgewater Associates raised its holdings by 1,742%. Invesco increased its stake by 160.5%.
In total, hedge funds and institutional investors now own 87.36% of the company’s stock.
On the insider side, CEO Antony Spring sold 50,044 shares in early April at $17.92 per share, a move tied to tax withholding on equity awards. EVP Tracy Preston also sold 5,271 shares for the same reason. Insiders own about 1.05% of the stock.
The earnings call is scheduled for June 3, 2026 at 8:00 AM ET.
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