Readystate Asset Management LP Has $4.76 Million Stake in Macy’s, Inc. $M

Readystate Asset Management LP lowered its position in shares of Macy’s, Inc. (NYSE:M) by 64.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 265,668 shares of the company’s stock after selling 489,814 shares during the period. Readystate Asset Management LP owned about 0.10% of Macy’s worth $4,763,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of Macy’s by 1.9% during the third quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock worth $481,000 after purchasing an additional 500 shares during the last quarter. Bessemer Group Inc. boosted its position in 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 buying an additional 592 shares during the period. Ethic Inc. boosted its position in Macy’s by 5.5% during the 3rd quarter. Ethic Inc. now owns 16,825 shares of the company’s stock worth $302,000 after buying an additional 883 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in Macy’s by 3.2% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 32,500 shares of the company’s stock worth $379,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in Macy’s by 4.0% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 26,000 shares of the company’s stock valued at $466,000 after acquiring an additional 1,000 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction 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 represents a 62.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.09% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the topic of a number of recent research reports. Guggenheim assumed coverage on shares of Macy’s in a report on Tuesday, December 9th. They set a “neutral” rating on the stock. Wall Street Zen raised Macy’s from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Telsey Advisory Group increased their price target on Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a research note on Thursday, December 4th. Zacks Research downgraded Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Citigroup lifted their price objective on Macy’s from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Macy’s presently has a consensus rating of “Reduce” and a consensus target price of $20.50.

Macy’s Stock Up 2.8%

Shares of NYSE:M opened at $22.23 on Wednesday. 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. The business’s 50-day moving average is $22.03 and its 200-day moving average is $19.15. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 13.15 and a beta of 1.50.

Macy’s (NYSE:M) last released 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. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the firm posted $0.04 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Equities research analysts predict 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.