Macy’s, Inc. $M Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC cut its stake in Macy’s, Inc. (NYSE:M) by 2.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,165,841 shares of the company’s stock after selling 171,364 shares during the period. Newport Trust Company LLC’s holdings in Macy’s were worth $128,484,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. RWC Asset Management LLP increased its position in shares of Macy’s by 2.4% in the 3rd quarter. RWC Asset Management LLP now owns 10,902,310 shares of the company’s stock worth $195,478,000 after purchasing an additional 255,473 shares during the last quarter. American Century Companies Inc. grew its stake in Macy’s by 16.0% in the second quarter. American Century Companies Inc. now owns 10,094,564 shares of the company’s stock worth $117,703,000 after purchasing an additional 1,395,030 shares in the last quarter. Schroder Investment Management Group grew its stake in Macy’s by 104.5% in the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock worth $112,260,000 after purchasing an additional 4,920,821 shares in the last quarter. State Street Corp increased its holdings in Macy’s by 0.5% in the second quarter. State Street Corp now owns 9,420,372 shares of the company’s stock valued at $111,547,000 after buying an additional 45,997 shares during the last quarter. Finally, Cooper Creek Partners Management LLC raised its stake in Macy’s by 13.4% during the second quarter. Cooper Creek Partners Management LLC now owns 7,395,091 shares of the company’s stock valued at $86,227,000 after buying an additional 876,606 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the company’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 completion of the transaction, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on M. Guggenheim initiated coverage on Macy’s in a research report on Tuesday, December 9th. They issued a “neutral” rating for the company. Evercore ISI raised their price objective on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research note on Friday, December 5th. The Goldman Sachs Group boosted their target price on shares of Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. BTIG Research began coverage on shares of Macy’s in a report on Tuesday, October 14th. They set a “neutral” rating on the stock. Finally, Morgan Stanley lifted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.50.

Macy’s Price Performance

Shares of M opened at $20.31 on Friday. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month 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. The stock has a fifty day moving average price of $22.11 and a 200 day moving average price of $18.08. The company has a market cap of $5.40 billion, a P/E ratio of 12.02 and a beta of 1.43.

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

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.