Macy’s, Inc. $M Holdings Decreased by AXQ Capital LP

AXQ Capital LP reduced its position in shares of Macy’s, Inc. (NYSE:M) by 73.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,355 shares of the company’s stock after selling 68,620 shares during the period. AXQ Capital LP’s holdings in Macy’s were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new position in shares of Macy’s in the 3rd quarter worth about $44,362,000. Y Intercept Hong Kong Ltd acquired a new stake in Macy’s during the third quarter worth about $3,307,000. Allianz Asset Management GmbH lifted its holdings in Macy’s by 2.1% in the third quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock worth $57,791,000 after acquiring an additional 65,395 shares during the last quarter. SummerHaven Investment Management LLC bought a new position in Macy’s in the third quarter worth about $1,192,000. Finally, Prudential Financial Inc. boosted its stake in Macy’s by 4.6% in the second quarter. Prudential Financial Inc. now owns 389,238 shares of the company’s stock valued at $4,539,000 after acquiring an additional 17,209 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Down 2.2%

Shares of NYSE:M opened at $20.81 on Wednesday. The company has a 50 day moving average of $21.85 and a 200-day moving average of $19.49. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. The firm has a market cap of $5.53 billion, a P/E ratio of 12.31 and a beta of 1.50. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month high of $24.41.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on M shares. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. Evercore raised their target price on Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research note on Friday, December 5th. Morgan Stanley upped their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Wall Street Zen raised shares of Macy’s from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Finally, Telsey Advisory Group boosted their target price 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. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $20.50.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 85,000 shares of Macy’s stock in a transaction dated 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 transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.77% of the stock is owned by corporate insiders.

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.