Rhumbline Advisers Sells 24,466 Shares of Macy’s, Inc. $M

Rhumbline Advisers lowered its stake in shares of Macy’s, Inc. (NYSE:M) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 737,393 shares of the company’s stock after selling 24,466 shares during the period. Rhumbline Advisers owned 0.27% of Macy’s worth $13,221,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Waterfront Wealth Inc. increased its position in Macy’s by 5.6% in the third quarter. Waterfront Wealth Inc. now owns 209,993 shares of the company’s stock worth $3,910,000 after buying an additional 11,190 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Macy’s during the 3rd quarter worth $181,000. Bessemer Group Inc. grew its stake in shares of Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after acquiring an additional 592 shares during the period. Savant Capital LLC increased its holdings in Macy’s by 2.8% in the 3rd quarter. Savant Capital LLC now owns 61,128 shares of the company’s stock worth $1,096,000 after acquiring an additional 1,648 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in Macy’s in the 3rd quarter valued at about $594,000. Hedge funds and other 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 firm’s stock in a transaction dated 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 transaction, the executive vice president owned 51,161 shares of the company’s stock, valued at $1,223,771.12. This trade represents a 62.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.09% of the company’s stock.

Analyst Upgrades and Downgrades

M has been the subject of a number of research reports. Evercore increased their target price on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. Zacks Research downgraded shares of Macy’s from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Telsey Advisory Group lifted their price objective on shares of Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a research note on Thursday, December 4th. Morgan Stanley boosted their target price on shares of Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Macy’s in a report on Wednesday. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $20.50.

Macy’s Stock Down 3.4%

Shares of NYSE:M opened at $22.01 on Friday. The firm has a market capitalization of $5.85 billion, a PE ratio of 13.02 and a beta of 1.50. The business has a 50 day simple moving average of $21.98 and a two-hundred day simple moving average of $19.19. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $24.41. 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 (NYSE:M) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the company earned $0.04 EPS. Macy’s’s quarterly revenue was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, equities analysts predict that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s 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.