Newport Trust Company LLC Trims Stock Position in Macy’s, Inc. $M

Newport Trust Company LLC trimmed its holdings in Macy’s, Inc. (NYSE:M) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,165,841 shares of the company’s stock after selling 171,364 shares during the period. Newport Trust Company LLC owned 2.67% of Macy’s worth $128,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Macy’s in the second quarter worth approximately $58,743,000. Schroder Investment Management Group grew its position in Macy’s by 104.5% during the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock valued at $112,260,000 after acquiring an additional 4,920,821 shares during the period. Invesco Ltd. increased its stake in Macy’s by 160.5% during the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after acquiring an additional 2,639,132 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Macy’s in the 3rd quarter worth about $44,362,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Macy’s by 107.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,253,538 shares of the company’s stock valued at $49,596,000 after purchasing an additional 2,203,874 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research report on Monday, December 29th. TD Cowen reissued a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. Telsey Advisory Group lifted their target price on shares of Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. Jefferies Financial Group initiated coverage on shares of Macy’s in a research report on Wednesday, January 14th. They set a “buy” rating and a $27.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus target price of $20.50.

Macy’s Price Performance

Shares of M stock opened at $20.31 on Friday. The company has a market capitalization of $5.40 billion, a PE ratio of 12.02 and a beta of 1.43. The firm has a fifty day simple moving average of $22.11 and a 200-day simple moving average of $18.08. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month 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 (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 firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Equities research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the completion of the transaction, the executive vice president owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.09% of the company’s stock.

Macy’s 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.