Royce & Associates LP Reduces Stock Holdings in Macy’s, Inc. $M

Royce & Associates LP lessened its holdings in Macy’s, Inc. (NYSE:M) by 25.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,286,000 shares of the company’s stock after selling 444,000 shares during the quarter. Royce & Associates LP owned 0.48% of Macy’s worth $23,058,000 at the end of the most recent reporting period.

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

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.09% of the company’s stock.

Macy’s Stock Performance

NYSE M opened at $19.77 on Monday. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 11.70 and a beta of 1.50. The stock has a 50-day moving average of $21.65 and a 200 day moving average of $19.65. 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 posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the previous year, the business earned $0.04 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Sell-side analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

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

Analyst Upgrades and Downgrades

M has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a research note on Monday, December 29th. Zacks Research lowered shares of Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. TD Cowen restated a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Wall Street Zen upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Finally, Evercore upped their price target on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a report on Friday, December 5th. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $20.50.

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.