Citigroup Inc. Increases Stake in Macy’s, Inc. $M

Citigroup Inc. grew its stake in shares of Macy’s, Inc. (NYSE:M) by 812.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 768,008 shares of the company’s stock after purchasing an additional 683,816 shares during the quarter. Citigroup Inc. owned approximately 0.29% of Macy’s worth $13,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in M. Cullen Frost Bankers Inc. bought a new stake in Macy’s in the 3rd quarter worth $31,000. Bessemer Group Inc. boosted its holdings in Macy’s by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after acquiring an additional 592 shares in the last quarter. Hantz Financial Services Inc. increased its position in Macy’s by 101.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock valued at $41,000 after purchasing an additional 1,162 shares during the period. Quent Capital LLC bought a new stake in shares of Macy’s during the 3rd quarter valued at about $107,000. Finally, Jones Financial Companies Lllp increased its position in shares of Macy’s by 71.7% during the third quarter. Jones Financial Companies Lllp now owns 6,362 shares of the company’s stock valued at $115,000 after buying an additional 2,656 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on M. Evercore lifted their price objective on Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research report on Friday, December 5th. Wall Street Zen raised Macy’s from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Jefferies Financial Group initiated coverage on shares of Macy’s in a report on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price on the stock. Zacks Research downgraded shares of Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, UBS Group set a $21.00 price objective on shares of Macy’s in a research note on Thursday, December 4th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Reduce” and a consensus target price of $20.50.

Insider Transactions at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.09% of the company’s stock.

Macy’s Trading Down 2.9%

Shares of M stock opened at $19.77 on Friday. The stock has a market capitalization of $5.26 billion, a P/E ratio of 11.70 and a beta of 1.50. 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’s 50 day moving average is $21.65 and its 200 day moving average is $19.56. Macy’s, Inc. has a 12-month low of $9.76 and a 12-month high of $24.41.

Macy’s (NYSE:M) last released 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 for the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the business posted $0.04 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

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.