SG Americas Securities LLC Has $3.22 Million Position in Macy’s, Inc. $M

SG Americas Securities LLC increased its stake in shares of Macy’s, Inc. (NYSE:M) by 83.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,607 shares of the company’s stock after purchasing an additional 81,778 shares during the quarter. SG Americas Securities LLC’s holdings in Macy’s were worth $3,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. HB Wealth Management LLC grew its stake in shares of Macy’s by 1.3% during the third quarter. HB Wealth Management LLC now owns 104,418 shares of the company’s stock worth $1,872,000 after buying an additional 1,379 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Macy’s during the 3rd quarter valued at $244,000. Hennessy Advisors Inc. bought a new stake in Macy’s during the 3rd quarter worth $44,362,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Macy’s by 23.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 91,609 shares of the company’s stock worth $1,643,000 after acquiring an additional 17,200 shares during the last quarter. Finally, Ethic Inc. increased its holdings in Macy’s by 5.5% in the 3rd quarter. Ethic Inc. now owns 16,825 shares of the company’s stock worth $302,000 after purchasing an additional 883 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Danielle L. Kirgan sold 85,000 shares of Macy’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on M. Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. Morgan Stanley raised their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. Telsey Advisory Group boosted their target price on shares of Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, December 4th. BTIG Research assumed coverage on shares of Macy’s in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus price target of $20.50.

Macy’s Stock Performance

NYSE:M opened at $21.91 on Tuesday. 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 50 day simple moving average of $21.93 and a two-hundred day simple moving average of $17.55. The company has a market capitalization of $5.82 billion, a PE ratio of 12.96 and a beta of 1.43.

Macy’s (NYSE:M) last issued its quarterly earnings results 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 net margin of 2.10% and a return on equity of 15.57%. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the previous year, the company earned $0.04 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.73 dividend on an annualized basis and a yield of 3.3%. Macy’s’s dividend payout ratio is 43.20%.

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.