Principal Financial Group Inc. Trims Stock Holdings in Macy’s, Inc. $M

Principal Financial Group Inc. decreased its holdings in shares of Macy’s, Inc. (NYSE:M) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 603,516 shares of the company’s stock after selling 28,062 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Macy’s worth $10,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in M. Hennessy Advisors Inc. purchased a new stake in shares of Macy’s in the third quarter worth $44,362,000. Y Intercept Hong Kong Ltd purchased a new position in Macy’s during the third quarter worth about $3,307,000. SummerHaven Investment Management LLC bought a new position in Macy’s in the 3rd quarter worth about $1,192,000. Prudential Financial Inc. raised 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 in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Macy’s by 25.9% in 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. 87.36% of the stock is owned by institutional investors.

Macy’s Price Performance

M stock opened at $21.70 on Thursday. The firm has a market cap of $5.77 billion, a P/E ratio of 12.84 and a beta of 1.50. The firm’s fifty day moving average is $22.08 and its 200 day moving average is $18.86. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $24.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’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 predict that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other Macy’s 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 completion of the sale, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on M shares. Evercore upped their price objective on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. Guggenheim started coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. The Goldman Sachs Group raised their price objective on shares of Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Citigroup upped their target price on shares of Macy’s from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Finally, Jefferies Financial Group began coverage on Macy’s in a research report on Wednesday, January 14th. They set a “buy” rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $20.50.

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.