American Century Companies Inc. Purchases 669,729 Shares of Macy’s, Inc. $M

American Century Companies Inc. increased its position in Macy’s, Inc. (NYSE:M) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,764,293 shares of the company’s stock after purchasing an additional 669,729 shares during the period. American Century Companies Inc. owned approximately 4.01% of Macy’s worth $193,004,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Macy’s during the third quarter worth $758,000. Handelsbanken Fonder AB increased its position in shares of Macy’s by 28.7% during the third quarter. Handelsbanken Fonder AB now owns 74,465 shares of the company’s stock worth $1,335,000 after acquiring an additional 16,600 shares in the last quarter. US Bancorp DE raised its holdings in shares of Macy’s by 5.0% in the 3rd quarter. US Bancorp DE now owns 19,307 shares of the company’s stock worth $346,000 after acquiring an additional 919 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Macy’s by 812.2% in the 3rd quarter. Citigroup Inc. now owns 768,008 shares of the company’s stock worth $13,770,000 after acquiring an additional 683,816 shares during the last quarter. Finally, Zweig DiMenna Associates LLC lifted its position in Macy’s by 268.9% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 166,000 shares of the company’s stock valued at $2,976,000 after acquiring an additional 121,000 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

M has been the subject of a number of recent research reports. TD Cowen reissued a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Citigroup reaffirmed a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. Wall Street Zen raised Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Guggenheim assumed coverage on Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $20.50.

Macy’s Trading Down 2.9%

Shares of M opened at $19.77 on Friday. Macy’s, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. The business has a 50-day moving average of $21.65 and a 200 day moving average of $19.60. The firm has a market cap of $5.26 billion, a P/E ratio of 11.70 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.22. The business 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 revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Insider Buying and Selling

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.09% of the company’s stock.

Macy’s Company 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.