Citigroup Inc. Acquires 683,816 Shares of Macy’s, Inc. $M

Citigroup Inc. lifted its holdings in Macy’s, Inc. (NYSE:M) by 812.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 768,008 shares of the company’s stock after acquiring an additional 683,816 shares during the period. Citigroup Inc.’s holdings in Macy’s were worth $13,770,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Macy’s by 38.3% during 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 purchasing an additional 45,149 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Macy’s by 5.3% in 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 worth $14,019,000 after buying an additional 55,821 shares during the period. Focus Partners Wealth raised its holdings in shares of Macy’s by 33.1% in the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after buying an additional 14,489 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Macy’s by 22.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 158,007 shares of the company’s stock worth $1,842,000 after acquiring an additional 28,695 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Macy’s by 288.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 49,185 shares of the company’s stock valued at $583,000 after acquiring an additional 36,512 shares during the period. Institutional investors own 87.36% of the company’s stock.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were 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 owned 51,161 shares of the company’s stock, valued at $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.09% of the stock is currently owned by company insiders.

Macy’s Trading Down 2.9%

Shares of NYSE:M opened at $19.77 on Friday. The company has a market capitalization of $5.26 billion, a PE ratio of 11.70 and a beta of 1.50. 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 12-month low of $9.76 and a 12-month high of $24.41. The business’s fifty day simple moving average is $21.65 and its 200-day simple moving average is $19.56.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share 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 company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter last year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, equities research analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley lifted their target price on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Wall Street Zen raised shares of Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Guggenheim began coverage on shares of Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. Zacks Research cut Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Jefferies Financial Group began coverage on Macy’s in a research report on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price for the company. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target 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.