State of Alaska Department of Revenue Decreases Stock Position in Macy’s, Inc. $M

State of Alaska Department of Revenue trimmed its position in shares of Macy’s, Inc. (NYSE:M) by 55.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,119 shares of the company’s stock after selling 102,282 shares during the period. State of Alaska Department of Revenue’s holdings in Macy’s were worth $1,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of M. Hennessy Advisors Inc. bought a new position in Macy’s during the 3rd quarter worth approximately $44,362,000. Prudential Financial Inc. increased its holdings in shares of Macy’s by 4.6% in the 2nd 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 last quarter. Texas Permanent School Fund Corp raised its position in shares of Macy’s by 25.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 304,192 shares of the company’s stock valued at $3,547,000 after acquiring an additional 62,596 shares in the last quarter. Caxton Associates LLP bought a new position in Macy’s during the second quarter worth $2,276,000. Finally, Oak Thistle LLC acquired a new position in Macy’s in the third quarter worth $3,333,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on M. Telsey Advisory Group increased their target price on shares of Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, December 4th. Evercore ISI increased their price objective on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research note on Friday, December 5th. Citigroup lifted their target price on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Morgan Stanley increased their price target on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.50.

Macy’s Trading Up 0.8%

Shares of Macy’s stock opened at $21.74 on Friday. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $24.41. The company’s fifty day simple moving average is $22.04 and its 200-day simple moving average is $17.75. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 12.86 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. The firm had revenue of $4.91 billion during 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 business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.73 dividend on an annualized basis and a yield of 3.4%. Macy’s’s dividend payout ratio (DPR) is 43.20%.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the business’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 in the company, valued at $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.09% of the stock is currently owned by company 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.