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

Arrowstreet Capital Limited Partnership increased its holdings in 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 purchasing an additional 2,203,874 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.57% of Macy’s worth $49,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of M. Dimensional Fund Advisors LP raised its position in Macy’s by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 15,964,002 shares of the company’s stock valued at $200,510,000 after purchasing an additional 212,791 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Macy’s by 16.0% during the second quarter. American Century Companies Inc. now owns 10,094,564 shares of the company’s stock valued at $117,703,000 after buying an additional 1,395,030 shares during the period. Schroder Investment Management Group raised its holdings in shares of Macy’s by 104.5% during the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock valued at $112,260,000 after acquiring an additional 4,920,821 shares in the last quarter. AQR Capital Management LLC lifted its stake in Macy’s by 269.2% in the first quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company’s stock worth $65,683,000 after acquiring an additional 3,813,210 shares during the period. Finally, Norges Bank bought a new stake in Macy’s in the second quarter valued at $58,743,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Transactions at Macy’s

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

Wall Street Analyst Weigh In

M has been the subject of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Macy’s in a report on Monday. UBS Group set a $21.00 price target on shares of Macy’s in a research note on Thursday. Barclays raised their price objective on shares of Macy’s from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, September 4th. Telsey Advisory Group upped their target price on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Wall Street Zen lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.25.

Macy’s Stock Performance

Shares of M opened at $22.29 on Friday. 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 business’s 50 day moving average price is $19.47 and its 200-day moving average price is $15.36. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $23.27. The stock has a market cap of $5.99 billion, a P/E ratio of 13.19 and a beta of 1.44.

Macy’s (NYSE:M) last posted 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. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.52 billion. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Equities research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Macy’s’s payout ratio is currently 41.71%.

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.