Arrowstreet Capital Limited Partnership Acquires 2,203,874 Shares of Macy’s, Inc. $M

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 107.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,253,538 shares of the company’s stock after buying an additional 2,203,874 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Macy’s were worth $49,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of M. Summit Securities Group LLC lifted its stake in Macy’s by 106.0% during the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock valued at $28,000 after acquiring an additional 38,800 shares during the period. Headlands Technologies LLC purchased a new position in shares of Macy’s during the first quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in Macy’s by 523.0% during the second quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock valued at $37,000 after purchasing an additional 2,662 shares during the period. Fifth Third Bancorp boosted its holdings in Macy’s by 28.7% in the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock worth $57,000 after purchasing an additional 1,087 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Macy’s by 116.2% in the second quarter. GAMMA Investing LLC now owns 7,590 shares of the company’s stock worth $88,000 after purchasing an additional 4,080 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In other Macy’s news, SVP Paul Griscom sold 12,843 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $17.26, for a total value of $221,670.18. Following the completion of the sale, the senior vice president owned 23,379 shares in the company, valued at approximately $403,521.54. This represents a 35.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Danielle L. Kirgan sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $17.75, for a total value of $1,775,000.00. Following the sale, the executive vice president directly owned 136,161 shares in the company, valued at approximately $2,416,857.75. This represents a 42.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.09% of the company’s stock.

Macy’s Stock Down 0.8%

M stock opened at $22.29 on Friday. The business’s 50-day moving average price is $19.47 and its 200-day moving average price is $15.36. The stock has a market cap of $5.99 billion, a P/E ratio of 13.19 and a beta of 1.44. The company has a quick ratio of 0.35, a current ratio of 1.25 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 $23.27.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the business earned $0.04 EPS. The firm’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. On average, equities research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $0.1824 per share. The ex-dividend date is Monday, December 15th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.3%. Macy’s’s payout ratio is 41.71%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on M. The Goldman Sachs Group boosted their target price on shares of Macy’s from $14.50 to $16.50 and gave the company a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Macy’s in a report on Monday. Citigroup upped their price objective on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday. Telsey Advisory Group raised their target price on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, UBS Group set a $21.00 price target on Macy’s in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.25.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.