Zweig DiMenna Associates LLC Has $2.98 Million Stake in Macy’s, Inc. $M

Zweig DiMenna Associates LLC lifted its position in shares of Macy’s, Inc. (NYSE:M) by 268.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,000 shares of the company’s stock after buying an additional 121,000 shares during the period. Zweig DiMenna Associates LLC’s holdings in Macy’s were worth $2,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in M. PNC Financial Services Group Inc. increased its position in 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 buying an additional 500 shares during the last quarter. Bessemer Group Inc. lifted its stake in Macy’s by 41.4% during the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after purchasing an additional 592 shares during the last quarter. Ethic Inc. boosted its stake in shares of Macy’s by 5.5% in the 3rd quarter. Ethic Inc. now owns 16,825 shares of the company’s stock valued at $302,000 after purchasing an additional 883 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in shares of Macy’s by 3.2% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 32,500 shares of the company’s stock valued at $379,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Macy’s by 4.0% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 26,000 shares of the company’s stock valued at $466,000 after purchasing an additional 1,000 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $2,033,200.00. Following the sale, the executive vice president directly owned 51,161 shares of the company’s stock, 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. Insiders own 2.77% of the company’s stock.

Macy’s Price Performance

NYSE M opened at $21.61 on Tuesday. The business’s fifty day moving average is $22.04 and its 200 day moving average is $19.08. 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, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. The company has a market capitalization of $5.74 billion, a PE ratio of 12.78 and a beta of 1.50.

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

Analyst Ratings Changes

A number of research firms have recently commented on M. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Zacks Research cut Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Telsey Advisory Group lifted their target price on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. Morgan Stanley raised their target price 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, The Goldman Sachs Group lifted their price objective 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. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $20.50.

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.