SummerHaven Investment Management LLC Purchases Shares of 66,501 Macy’s, Inc. $M

SummerHaven Investment Management LLC purchased a new position in shares of Macy’s, Inc. (NYSE:M) during the third quarter, HoldingsChannel reports. The firm purchased 66,501 shares of the company’s stock, valued at approximately $1,192,000. Macy’s accounts for 0.7% of SummerHaven Investment Management LLC’s portfolio, making the stock its 8th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in Macy’s during the 3rd quarter worth $31,000. Fifth Third Bancorp raised its position in shares of Macy’s by 28.7% during the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock worth $57,000 after acquiring an additional 1,087 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Macy’s by 116.2% during the second quarter. GAMMA Investing LLC now owns 7,590 shares of the company’s stock worth $88,000 after acquiring an additional 4,080 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Macy’s in the third quarter worth approximately $107,000. Finally, Arista Wealth Management LLC bought a new stake in Macy’s in the second quarter valued at approximately $117,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Performance

Shares of M opened at $20.38 on Wednesday. The stock has a 50-day moving average of $22.15 and a 200-day moving average of $18.23. Macy’s, Inc. has a one year low of $9.76 and a one 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 company has a market cap of $5.42 billion, a PE ratio of 12.06 and a beta of 1.43.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share (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 for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. On average, equities research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on M shares. Morgan Stanley boosted 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. TD Cowen restated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Evercore ISI increased their price target on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a report on Friday, December 5th. Guggenheim assumed coverage on Macy’s in a research report on Tuesday, December 9th. They issued a “neutral” rating for the company. Finally, Citigroup upped their target price on Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.77% of the company’s stock.

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.