Bank of New York Mellon Corp Acquires New Stake in Macy's, Inc. $M

Key Points

• Bank of New York Mellon acquired 2.86 million Macy’s shares worth approximately $67.45 million, giving it a 1.09% stake. Institutional investors collectively own 87.36% of the company.
• Macy’s reported quarterly earnings of $0.13 per share, beating the $0.02 consensus estimate, while revenue rose 1.8% year over year to $4.89 billion. The company issued fiscal 2026 EPS guidance of $2.00–$2.20.
• Macy’s shares opened at $22.61, down 2.5%, while analysts maintained an overall “Hold” rating with an average price target of $21.90. Two executives also sold shares to cover tax withholding obligations.

Bank of New York Mellon Corp bought a new position in shares of Macy's, Inc. (NYSE:M - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,864,116 shares of the company's stock, valued at approximately $67,450,000. Bank of New York Mellon Corp owned 1.09% of Macy's at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in M. Strengthening Families & Communities LLC bought a new stake in Macy's during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC raised its position in shares of Macy's by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company's stock worth $34,000 after acquiring an additional 526 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Macy's by 35.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company's stock worth $41,000 after acquiring an additional 486 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Macy's in the 4th quarter valued at about $54,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Macy's by 96.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,463 shares of the company's stock valued at $54,000 after purchasing an additional 1,210 shares during the period. Institutional investors own 87.36% of the company's stock.

Insider Activity

In related news, EVP Thomas Jr. Edwards sold 16,419 shares of Macy's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total transaction of $408,668.91. Following the sale, the executive vice president directly owned 20,000 shares in the company, valued at approximately $497,800. This trade represents a 45.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $25.63, for a total value of $258,273.51. Following the sale, the senior vice president directly owned 25,373 shares of the company's stock, valued at approximately $650,309.99. This represents a 28.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.05% of the stock is currently owned by insiders.

Macy's Stock Down 2.5%

Macy's stock opened at $22.61 on Wednesday. Macy's, Inc. has a 1-year low of $13.09 and a 1-year high of $26.58. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 9.34 and a beta of 1.47. The firm's fifty day moving average price is $24.01 and its two-hundred day moving average price is $21.39. The company has a current ratio of 1.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.50.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.61 billion. Macy's had a net margin of 2.94% and a return on equity of 13.68%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm 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. On average, equities research analysts predict that Macy's, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on M shares. Telsey Advisory Group boosted their price target on Macy's from $20.00 to $23.00 and gave the company a "market perform" rating in a research note on Thursday, June 4th. Wall Street Zen downgraded shares of Macy's from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. Evercore set a $22.00 price objective on shares of Macy's in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Macy's from $21.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Finally, TD Cowen boosted their target price on shares of Macy's from $20.00 to $25.00 and gave the company a "hold" rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $21.90.

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.

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