Rhumbline Advisers Sells 24,466 Shares of Macy’s, Inc. $M

Rhumbline Advisers trimmed its holdings in shares of Macy’s, Inc. (NYSE:M) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 737,393 shares of the company’s stock after selling 24,466 shares during the quarter. Rhumbline Advisers’ holdings in Macy’s were worth $13,221,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Macy’s by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock valued at $2,047,000 after acquiring an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Macy’s by 5.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock valued at $14,019,000 after purchasing an additional 55,821 shares in the last quarter. Focus Partners Wealth grew its stake in Macy’s by 33.1% in the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock valued at $731,000 after purchasing an additional 14,489 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Macy’s in the second quarter worth about $126,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Macy’s during the second quarter valued at about $868,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Jefferies Financial Group began coverage on shares of Macy’s in a research note on Wednesday, January 14th. They issued a “buy” rating and a $27.00 target price for the company. Wall Street Zen raised Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. UBS Group set a $21.00 price objective on Macy’s in a report on Thursday, December 4th. Finally, Guggenheim began coverage on Macy’s in a research report on Tuesday, December 9th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $20.50.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were 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 directly owned 51,161 shares in the company, valued at $1,223,771.12. The trade was a 62.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.09% of the stock is owned by insiders.

Macy’s Stock Performance

Shares of M stock opened at $22.01 on Friday. Macy’s, Inc. has a 52-week low of $9.76 and a 52-week high of $24.41. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.85 billion, a PE ratio of 13.02 and a beta of 1.50. The business has a 50-day simple moving average of $21.98 and a 200-day simple moving average of $19.19.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the business earned $0.04 earnings per share. Macy’s’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. On average, equities analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

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.