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Macy’s, Inc. (NYSE:M), the well-known retail department store chain currently trading at $14.35, has announced the scheduling of its annual meeting of stockholders for May 16, 2025. The company’s Board of Directors established the meeting date and also set March 20, 2025, as the record date for stockholders eligible to vote at the meeting. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
The announcement came through a Form 8-K filing with the Securities and Exchange Commission on Friday, February 28, 2025. The filing provided the necessary details for stockholders regarding the upcoming corporate event.
Macy’s has a storied history in the retail sector, operating numerous department stores across the United States. The company’s headquarters is located at 151 West 34th Street, New York, New York. With annual revenue of $23.37 billion and a market capitalization of approximately $4 billion, Macy’s is recognized for its significant presence in the industry and is a staple in American shopping culture. InvestingPro identifies Macy’s as a prominent player in the Broadline Retail industry, with additional insights available in their comprehensive Pro Research Report.
The annual meeting is a critical event for Macy’s and its stockholders, as it offers an opportunity for them to engage with the company’s leadership and vote on important matters affecting the company’s direction and governance.
The scheduling of the annual meeting is a routine corporate action, and the setting of a record date is a standard procedure to determine stockholders who are entitled to receive notice of the meeting, to vote, and to partake in any dividend or other entitlements.
Stockholders of Macy’s as of the record date will have the right to attend the annual meeting, either in person or by proxy, to cast their votes on various corporate matters. The specific agenda items for the meeting have not been disclosed in the filing.
This announcement is based on a press release statement and is intended to inform the company’s investors and the public about the upcoming annual meeting. The information is presented without bias and in accordance with professional reporting standards.
In other recent news, Macy’s, Inc. announced a 5% increase in its regular quarterly dividend, raising it to 18.24 cents per share. This decision underscores the company’s commitment to returning value to its shareholders. Additionally, Macy’s has expanded its partnership with NBCUniversal, securing a 10-year rights agreement to air its Thanksgiving Day Parade and 4th of July Fireworks on NBC, Peacock, and Telemundo, enhancing its holiday programming reach. Macy’s also provided a performance update for the fiscal fourth quarter of 2024, maintaining its adjusted diluted earnings per share forecast within the range of $1.40 to $1.65, though net sales are expected to be at or slightly below the lower end of projections.
In a strategic move, Macy’s appointed Robert Chavez to its Board of Directors, bringing over 40 years of retail industry experience. Meanwhile, CFRA raised its price target for Macy’s shares from $13.00 to $15.00, despite maintaining a Hold rating due to ongoing challenges in the department store sector. The firm adjusted its fiscal year 2025 and 2026 earnings per share estimates downward, reflecting a cautious outlook. Macy’s reported a normalized third-quarter EPS of $0.04, matching consensus estimates, with revenues slightly below expectations at $4.9 billion. The company updated its full-year guidance, anticipating an EPS range of $2.25 to $2.50, lower than previously issued guidance, but expects revenue to surpass prior forecasts.
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