Empirical Finance LLC Purchases Shares of 79,388 Macy’s, Inc. $M

Empirical Finance LLC acquired a new stake in shares of Macy’s, Inc. (NYSE:M) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 79,388 shares of the company’s stock, valued at approximately $926,000.

A number of other hedge funds have also modified their holdings of M. Summit Securities Group LLC raised its position in shares of Macy’s by 106.0% during the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock worth $28,000 after purchasing an additional 38,800 shares during the period. Headlands Technologies LLC purchased a new position in Macy’s in the 1st quarter worth about $29,000. UMB Bank n.a. raised its holdings in Macy’s by 523.0% during the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock worth $37,000 after buying an additional 2,662 shares during the period. Fifth Third Bancorp lifted its stake in Macy’s by 28.7% during the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock valued at $57,000 after buying an additional 1,087 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Macy’s by 116.2% during the second quarter. GAMMA Investing LLC now owns 7,590 shares of the company’s stock valued at $88,000 after buying an additional 4,080 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Macy’s

In other Macy’s news, SVP Paul Griscom sold 12,843 shares of Macy’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $17.26, for a total value of $221,670.18. Following the completion of the sale, the senior vice president directly owned 23,379 shares in the company, valued at $403,521.54. The trade was a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $17.30, for a total transaction of $1,730,000.00. Following the completion of the sale, the executive vice president directly owned 286,161 shares of the company’s stock, valued at $4,950,585.30. This represents a 25.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 212,843 shares of company stock worth $3,726,670. Insiders own 1.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on M shares. Citigroup lifted their target price on shares of Macy’s from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price objective (up from $14.00) on shares of Macy’s in a research report on Wednesday, September 3rd. Zacks Research raised shares of Macy’s from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. BTIG Research started coverage on Macy’s in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. Finally, The Goldman Sachs Group lifted their price target on Macy’s from $14.50 to $16.50 and gave the company a “neutral” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.75.

Macy’s Trading Down 1.7%

Macy’s stock opened at $19.08 on Friday. The company’s fifty day simple moving average is $18.54 and its 200-day simple moving average is $14.66. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $21.25. The stock has a market cap of $5.12 billion, a P/E ratio of 10.90 and a beta of 1.83.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.22. Macy’s had a return on equity of 15.39% and a net margin of 2.18%.The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same period last year, the company earned $0.53 earnings per share. Macy’s’s quarterly revenue was down 2.5% compared to the same quarter last year. Macy’s has set its Q3 2025 guidance at -0.200–0.150 EPS. FY 2025 guidance at 1.700-2.050 EPS. As a group, sell-side analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $0.1824 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.73 dividend on an annualized basis and a yield of 3.8%. Macy’s’s dividend payout ratio is currently 41.71%.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.