Clearline Capital LP Raises Position in Macy's, Inc. $M

Key Points

• Clearline Capital LP increased its stake in Macy's, Inc. by 45.6%, acquiring an additional 115,354 shares, bringing its total ownership to approximately 368,423 shares valued at $4.63 million.
• Citigroup and Goldman Sachs both raised their price targets for Macy's to $16.00 and $14.50 respectively, with the company receiving a consensus rating of "Hold" and a price target of $14.85.
• Macy's reported a quarterly earnings per share (EPS) of $0.41, surpassing expectations, with its revenue reaching $4.81 billion but reflecting a 2.5% year-over-year decline.

Clearline Capital LP boosted its holdings in Macy's, Inc. (NYSE:M - Free Report) by 45.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 368,423 shares of the company's stock after buying an additional 115,354 shares during the period. Clearline Capital LP owned approximately 0.13% of Macy's worth $4,627,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in M. RWC Asset Management LLP bought a new position in Macy's in the 1st quarter worth approximately $80,868,000. AQR Capital Management LLC increased its position in shares of Macy's by 269.2% during the first quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company's stock valued at $65,683,000 after purchasing an additional 3,813,210 shares during the period. Junto Capital Management LP bought a new stake in shares of Macy's during the fourth quarter valued at approximately $48,775,000. Trexquant Investment LP bought a new stake in shares of Macy's during the first quarter valued at approximately $22,059,000. Finally, American Century Companies Inc. increased its position in shares of Macy's by 21.9% during the first quarter. American Century Companies Inc. now owns 8,699,534 shares of the company's stock valued at $109,266,000 after purchasing an additional 1,562,402 shares during the period. 87.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 100,000 shares of the business's stock in a transaction 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 sale, the executive vice president owned 286,161 shares in the company, valued at $4,950,585.30. The trade was a 25.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.09% of the stock is owned by corporate insiders.

Macy's Stock Down 1.0%

Macy's stock traded down $0.17 during midday trading on Wednesday, reaching $17.05. The stock had a trading volume of 10,137,184 shares, compared to its average volume of 10,601,110. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.35 and a current ratio of 1.38. The firm's fifty day simple moving average is $13.25 and its 200-day simple moving average is $12.54. The stock has a market capitalization of $4.63 billion, a P/E ratio of 9.74 and a beta of 1.78. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $18.13.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported $0.41 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 company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm's revenue for the quarter 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, analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.1824 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.3%. Macy's's payout ratio is 41.71%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. UBS Group increased their target price on Macy's from $6.00 to $6.50 and gave the stock a "sell" rating in a report on Thursday, September 4th. Citigroup increased their target price on Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Jefferies Financial Group increased their target price on Macy's from $14.50 to $18.50 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, The Goldman Sachs Group increased their target price on Macy's from $13.00 to $14.50 and gave the stock a "neutral" rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.85.

Macy's Profile

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.