Cooper Creek Partners Management LLC Purchases 876,606 Shares of Macy’s, Inc. $M

Cooper Creek Partners Management LLC raised its position in Macy’s, Inc. (NYSE:M) by 13.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,395,091 shares of the company’s stock after acquiring an additional 876,606 shares during the quarter. Macy’s makes up about 2.7% of Cooper Creek Partners Management LLC’s investment portfolio, making the stock its 12th largest holding. Cooper Creek Partners Management LLC owned 2.72% of Macy’s worth $86,227,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC raised its holdings in shares of Macy’s by 106.0% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock valued at $28,000 after purchasing an additional 38,800 shares during the period. Headlands Technologies LLC acquired a new position in Macy’s during the first quarter worth approximately $29,000. UMB Bank n.a. raised its stake in Macy’s by 523.0% in the second quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock valued at $37,000 after buying an additional 2,662 shares during the period. Fifth Third Bancorp boosted its stake in shares of Macy’s by 28.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock worth $57,000 after acquiring an additional 1,087 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Macy’s by 116.2% during the 2nd quarter. GAMMA Investing LLC now owns 7,590 shares of the company’s stock worth $88,000 after acquiring an additional 4,080 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Price Performance

Shares of Macy’s stock opened at $22.87 on Friday. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month high of $23.27. The company has a quick ratio of 0.35, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $15.46. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 13.53 and a beta of 1.44.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share (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 firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the business posted $0.04 EPS. 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. Analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $0.1824 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.73 annualized dividend and a yield of 3.2%. Macy’s’s payout ratio is currently 43.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Macy’s in a research report on Monday, December 1st. Morgan Stanley raised their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday. Zacks Research raised shares of Macy’s from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 18th. Finally, Barclays increased their price target on shares of Macy’s from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.36.

Insider Buying and Selling at Macy’s

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

Macy’s Company Profile

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.