American Century Companies Inc. Buys 1,562,402 Shares of Macy's, Inc. $M

Key Points

• American Century Companies Inc. increased its ownership of Macy's by 21.9%, holding a total of 8.7 million shares worth approximately $109 million as of the latest reporting period.
• Macy's reported earnings of $0.16 per share for the quarter, surpassing analyst expectations but experiencing a 5.1% decline in revenue year-over-year.
• Analysts have mixed ratings on Macy's stock, with an average target price of $13.22 and several firms issuing cautious or neutral ratings.

American Century Companies Inc. grew its stake in Macy's, Inc. (NYSE:M - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,699,534 shares of the company's stock after purchasing an additional 1,562,402 shares during the period. American Century Companies Inc. owned approximately 3.12% of Macy's worth $109,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. grew its position in Macy's by 4.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company's stock valued at $261,000 after acquiring an additional 717 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Macy's by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company's stock worth $1,736,000 after purchasing an additional 872 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Macy's by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company's stock worth $220,000 after purchasing an additional 924 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Macy's by 0.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 205,492 shares of the company's stock worth $2,581,000 after purchasing an additional 959 shares in the last quarter. Finally, Factorial Partners LLC lifted its holdings in Macy's by 0.9% during the 1st quarter. Factorial Partners LLC now owns 111,000 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Macy's Trading Down 1.9%

Shares of M stock traded down $0.2550 on Tuesday, reaching $13.0150. The company had a trading volume of 4,328,696 shares, compared to its average volume of 7,505,674. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The stock has a market cap of $3.53 billion, a PE ratio of 6.61 and a beta of 1.79. The company has a 50-day moving average of $12.21 and a 200-day moving average of $12.55.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The company had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same period last year, the firm posted $0.27 earnings per share. The business's quarterly revenue was down 5.1% compared to the same quarter last year. Macy's has set its FY 2025 guidance at 1.600-2.000 EPS. On average, equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

M has been the topic of several research analyst reports. Telsey Advisory Group decreased their price objective on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, May 29th. Citigroup restated a "neutral" rating and set a $12.00 price target (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, The Goldman Sachs Group cut Macy's from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Macy's currently has an average rating of "Hold" and a consensus target price of $13.22.

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.