Retirement Systems of Alabama Sells 458,790 Shares of Macy’s, Inc. $M

Retirement Systems of Alabama decreased its stake in Macy’s, Inc. (NYSE:M) by 58.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 328,307 shares of the company’s stock after selling 458,790 shares during the period. Retirement Systems of Alabama owned about 0.12% of Macy’s worth $5,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in M. Hennessy Advisors Inc. purchased a new stake in shares of Macy’s in the 3rd quarter valued at $44,362,000. Prudential Financial Inc. lifted 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 worth $4,539,000 after purchasing an additional 17,209 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Macy’s during the third quarter valued at about $3,307,000. Texas Permanent School Fund Corp grew its stake in shares of Macy’s by 25.9% during the second quarter. Texas Permanent School Fund Corp now owns 304,192 shares of the company’s stock valued at $3,547,000 after buying an additional 62,596 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Macy’s in the second quarter worth about $2,276,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

M has been the subject of several analyst reports. TD Cowen restated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Jefferies Financial Group began coverage on Macy’s in a research note on Wednesday, January 14th. They set a “buy” rating and a $27.00 price objective for the company. Guggenheim started coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Evercore ISI upped their price target on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a report on Friday, December 5th. Finally, Citigroup increased their price target on shares of Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Two equities research 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 stock. According to data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average price target of $20.50.

Insider Buying and Selling

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of Macy’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 transaction of $2,033,200.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this link. 1.09% of the stock is owned by company insiders.

Macy’s Stock Performance

Shares of M stock opened at $19.99 on Friday. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 11.83 and a beta of 1.43. The stock has a fifty day moving average of $22.17 and a 200 day moving average of $18.30. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $24.41. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm earned $0.04 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s 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.