Macy’s, Inc. $M Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in Macy’s, Inc. (NYSE:M) by 18.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,798 shares of the company’s stock after selling 2,860 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Macy’s were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in M. Headlands Technologies LLC acquired a new stake in Macy’s during the first quarter worth about $29,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Macy’s by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,849,558 shares of the company’s stock worth $35,790,000 after purchasing an additional 73,096 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Macy’s during the 1st quarter worth approximately $301,000. Factorial Partners LLC increased its position in Macy’s by 0.9% during the 1st quarter. Factorial Partners LLC now owns 111,000 shares of the company’s stock worth $1,394,000 after purchasing an additional 1,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Macy’s by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 25,399 shares of the company’s stock valued at $319,000 after buying an additional 1,491 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on M shares. Telsey Advisory Group decreased their price objective on shares of Macy’s from $15.00 to $14.00 and set a “market perform” rating for the company in a research note on Thursday, May 29th. Morgan Stanley restated a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. Barclays began coverage on Macy’s in a report on Monday, April 28th. They issued a “cautious” rating and a $12.00 price target for the company. Citigroup restated a “neutral” rating and set a $12.00 price objective (up previously from $11.00) on shares of Macy’s in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group downgraded Macy’s from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average target price of $13.22.

Macy’s Price Performance

NYSE:M opened at $13.0150 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The firm has a market cap of $3.53 billion, a PE ratio of 6.61 and a beta of 1.79. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The company’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $12.55.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Macy’s had a net margin of 2.45% and a return on equity of 16.34%. Macy’s’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Macy’s has set its FY 2025 guidance at 1.600-2.000 EPS. On average, equities analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

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.