Macy’s, Inc. $M Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its position in Macy’s, Inc. (NYSE:M) by 25.7% in the third quarter, HoldingsChannel reports. The firm owned 1,286,000 shares of the company’s stock after selling 444,000 shares during the period. Royce & Associates LP’s holdings in Macy’s were worth $23,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Macy’s by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock valued at $193,004,000 after buying an additional 669,729 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Macy’s during the 3rd quarter valued at approximately $758,000. Handelsbanken Fonder AB grew its position in Macy’s by 28.7% in the third quarter. Handelsbanken Fonder AB now owns 74,465 shares of the company’s stock worth $1,335,000 after acquiring an additional 16,600 shares during the period. US Bancorp DE raised its position in Macy’s by 5.0% in the third quarter. US Bancorp DE now owns 19,307 shares of the company’s stock valued at $346,000 after purchasing an additional 919 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Macy’s by 812.2% in the 3rd quarter. Citigroup Inc. now owns 768,008 shares of the company’s stock valued at $13,770,000 after purchasing an additional 683,816 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

M has been the subject of a number of recent analyst reports. Evercore lifted their price target on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research report on Friday, December 5th. The Goldman Sachs Group lifted their price objective on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Zacks Research lowered Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Citigroup reissued a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. Finally, TD Cowen restated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $20.50.

Macy’s Stock Performance

Shares of Macy’s stock opened at $19.77 on Monday. The business has a 50-day simple moving average of $21.65 and a 200-day simple moving average of $19.65. 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, Inc. has a one year low of $9.76 and a one year high of $24.41. The company has a market cap of $5.26 billion, a PE ratio of 11.70 and a beta of 1.50.

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

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.1915 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, March 13th. Macy’s’s payout ratio is 43.20%.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the company’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 completion of the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.09% of the stock is owned by company insiders.

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.