Legal & General Group Plc Sells 117,147 Shares of Macy’s, Inc. $M

Legal & General Group Plc reduced its position in shares of Macy’s, Inc. (NYSE:M) by 19.0% in the fourth quarter, Holdings Channel reports. The firm owned 497,947 shares of the company’s stock after selling 117,147 shares during the quarter. Legal & General Group Plc’s holdings in Macy’s were worth $10,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Macy’s by 1.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock valued at $481,000 after purchasing an additional 500 shares in the last quarter. Cambria Investment Management L.P. increased its stake in Macy’s by 4.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 12,066 shares of the company’s stock valued at $216,000 after purchasing an additional 524 shares in the last quarter. Bessemer Group Inc. increased its stake in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after purchasing an additional 592 shares in the last quarter. Private Advisor Group LLC increased its stake in Macy’s by 4.2% during the 3rd quarter. Private Advisor Group LLC now owns 18,444 shares of the company’s stock valued at $331,000 after purchasing an additional 750 shares in the last quarter. Finally, Certuity LLC increased its stake in Macy’s by 0.9% during the 3rd quarter. Certuity LLC now owns 103,890 shares of the company’s stock valued at $1,863,000 after purchasing an additional 880 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Performance

Shares of M stock opened at $21.76 on Thursday. The company has a 50 day moving average price of $19.45 and a 200-day moving average price of $20.53. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $24.41. The firm has a market capitalization of $5.74 billion, a PE ratio of 9.38 and a beta of 1.48. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, June 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.11. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.61 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. Macy’s has set its Q2 2026 guidance at 0.290-0.340 EPS and its FY 2026 guidance at 2.000-2.200 EPS. As a group, equities research analysts expect that Macy’s, Inc. will post 2.1 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, June 15th. Macy’s’s payout ratio is 33.19%.

Insider Activity

In other Macy’s news, EVP Danielle L. Kirgan sold 10,010 shares of Macy’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $179,379.20. Following the transaction, the executive vice president owned 108,008 shares of the company’s stock, valued at $1,935,503.36. The trade was a 8.48% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 shares of Macy’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $896,788.48. Following the transaction, the chief executive officer directly owned 485,791 shares in the company, valued at $8,705,374.72. This represents a 9.34% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 94,967 shares of company stock worth $1,705,276 over the last ninety days. Company insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on M shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. JPMorgan Chase & Co. reduced their price target on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $20.00 price target on shares of Macy’s in a research note on Wednesday, April 1st. UBS Group lifted their price target on shares of Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Monday, March 9th. Finally, Citigroup reduced their price target on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $18.90.

Key Stories Impacting Macy’s

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Macy’s posted first-quarter adjusted EPS of $0.13, far ahead of the $0.02 consensus, while revenue of $4.89 billion also topped estimates, signaling better-than-expected execution. Business Wire release
• Positive Sentiment: The company raised its full-year guidance, with FY 2026 EPS now expected at $2.00 to $2.20 and revenue projected at $21.5 billion to $21.8 billion, both reflecting improved confidence in the business. Wall Street Journal article
• Positive Sentiment: Comparable sales rose 3% in the quarter, the strongest first-quarter performance in four years, showing customers are responding to Macy’s turnaround strategy and higher-end assortment. CNBC article
• Positive Sentiment: Momentum at Bloomingdale’s and stronger demand for luxury items were highlighted as key drivers, which may reassure investors that growth is not limited to Macy’s core banner. InvestorsHub article
• Neutral Sentiment: Second-quarter EPS guidance of $0.29 to $0.34 was slightly below the analyst consensus of $0.35, which could temper some of the optimism around the quarter ahead. InvestorsHub article

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.