Pacer Advisors Inc. Makes New $1.22 Million Investment in Macy’s, Inc. $M

Pacer Advisors Inc. bought a new position in Macy’s, Inc. (NYSE:M) in the 3rd quarter, Holdings Channel.com reports. The fund bought 68,270 shares of the company’s stock, valued at approximately $1,224,000.

Several other large investors have also modified their holdings of M. PNC Financial Services Group Inc. grew its stake in Macy’s by 3.6% in the second quarter. PNC Financial Services Group Inc. now owns 26,306 shares of the company’s stock worth $307,000 after purchasing an additional 907 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted 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 buying an additional 1,000 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Macy’s by 4.5% in the 2nd quarter. Raymond James Financial Inc. now owns 23,949 shares of the company’s stock worth $279,000 after acquiring an additional 1,040 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Macy’s by 28.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock worth $57,000 after acquiring an additional 1,087 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Macy’s by 1.4% in the 2nd quarter. Yousif Capital Management LLC now owns 113,805 shares of the company’s stock valued at $1,327,000 after acquiring an additional 1,557 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of Macy’s 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 sale, the executive vice president directly owned 51,161 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on M. Citigroup raised 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. Morgan Stanley raised their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Wall Street Zen raised shares of Macy’s from a “buy” rating to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group boosted 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. Finally, Barclays raised their target price on shares of Macy’s from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and an average price target of $20.50.

Macy’s Price Performance

Shares of NYSE:M opened at $22.08 on Friday. The firm’s 50 day moving average is $21.45 and its two-hundred day moving average is $16.89. The firm has a market capitalization of $5.87 billion, a P/E ratio of 13.07 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $24.41.

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, topping analysts’ consensus estimates 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 analyst estimates of $4.52 billion. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Macy’s’s dividend payout ratio (DPR) is 43.20%.

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.