Convergence Investment Partners LLC Acquires 73,638 Shares of Macy's, Inc. $M

Key Points

• Convergence Investment Partners boosted its Macy’s stake by 174.3% in the first quarter, buying 73,638 additional shares and bringing its total holding to 115,882 shares worth about $2.1 million.
• Other institutional investors also increased their Macy’s positions, and institutions now own 87.36% of the company’s stock.
• Macy’s posted better-than-expected quarterly results, with EPS of $0.13 versus $0.02 expected, and it also maintained a quarterly dividend that annualizes to a 3.3% yield.

Convergence Investment Partners LLC lifted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 174.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,882 shares of the company's stock after purchasing an additional 73,638 shares during the quarter. Convergence Investment Partners LLC's holdings in Macy's were worth $2,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of M. Dimensional Fund Advisors LP lifted its stake in shares of Macy's by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 16,475,647 shares of the company's stock valued at $298,035,000 after purchasing an additional 329,675 shares during the last quarter. California Public Employees Retirement System increased its position in Macy's by 8.9% during the first quarter. California Public Employees Retirement System now owns 529,390 shares of the company's stock worth $9,577,000 after buying an additional 43,399 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Macy's by 10.9% during the first quarter. Bank of New York Mellon Corp now owns 2,913,622 shares of the company's stock valued at $52,707,000 after buying an additional 287,521 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Macy's by 2.8% during the first quarter. Principal Financial Group Inc. now owns 593,836 shares of the company's stock valued at $10,742,000 after buying an additional 16,177 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of Macy's in the first quarter worth about $84,000. Institutional investors own 87.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on M. TD Cowen raised their price objective on Macy's from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Monday, June 22nd. Wall Street Zen raised Macy's from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Citigroup increased their price target on Macy's from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Evercore set a $22.00 price target on shares of Macy's in a research report on Thursday, June 4th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Macy's in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Macy's has an average rating of "Hold" and an average target price of $21.70.

Insiders Place Their Bets

In other news, EVP Thomas Jr. Edwards sold 16,419 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $24.89, for a total value of $408,668.91. Following the sale, the executive vice president owned 20,000 shares in the company, valued at approximately $497,800. The trade was a 45.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 business's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $25.63, for a total transaction of $258,273.51. Following the completion of the sale, the senior vice president owned 25,373 shares in the company, valued at $650,309.99. This represents a 28.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.05% of the company's stock.

Macy's Stock Down 1.7%

M opened at $23.27 on Tuesday. The company has a market capitalization of $6.12 billion, a P/E ratio of 9.61 and a beta of 1.46. The firm's fifty day moving average price is $22.60 and its two-hundred day moving average price is $20.91. Macy's, Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $26.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.48 and a quick ratio of 0.44.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.11. Macy's had a net margin of 2.94% and a return on equity of 13.68%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company's quarterly revenue was up 1.8% compared to the same quarter last year. 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, analysts anticipate that Macy's, Inc. will post 2.19 EPS for the current year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, June 15th. Macy's's dividend payout ratio is 31.40%.

About Macy's

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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