Allianz Asset Management GmbH Grows Stock Position in Macy’s, Inc. $M

Allianz Asset Management GmbH lifted its holdings in Macy’s, Inc. (NYSE:M) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,223,138 shares of the company’s stock after purchasing an additional 65,395 shares during the period. Allianz Asset Management GmbH owned about 1.20% of Macy’s worth $57,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in Macy’s during the third quarter valued at approximately $31,000. Quent Capital LLC bought a new stake in shares of Macy’s during the 3rd quarter valued at $107,000. Jones Financial Companies Lllp increased its stake in shares of Macy’s by 71.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 6,362 shares of the company’s stock worth $115,000 after purchasing an additional 2,656 shares in the last quarter. Mraz Amerine & Associates Inc. bought a new position in Macy’s in the 2nd quarter worth $117,000. Finally, Arista Wealth Management LLC purchased a new position in Macy’s during the second quarter valued at $117,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Trading Up 2.3%

Shares of M opened at $21.71 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $24.41. The company has a 50 day simple moving average of $22.17 and a two-hundred day simple moving average of $18.54. The firm has a market cap of $5.77 billion, a P/E ratio of 12.85 and a beta of 1.50.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.22. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. 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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup upped their price target on Macy’s from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Morgan Stanley increased their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Jefferies Financial Group started coverage on shares of Macy’s in a research note on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price on the stock. BTIG Research initiated coverage on shares of Macy’s in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. Finally, Guggenheim started coverage on shares of Macy’s in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, 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 stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.09% of the company’s stock.

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.