Goldman Sachs Group Inc. Has $150.45 Million Stock Position in Macy's, Inc. $M

Key Points

• Goldman Sachs boosted its Macy’s stake by 67.5% in the fourth quarter, ending with 6.82 million shares valued at about $150.45 million.
• Macy’s reported better-than-expected earnings, with Q2 results topping estimates, comparable sales up 3% year over year, and management raising its full-year outlook.
• Analyst sentiment has improved somewhat, with firms like JPMorgan and Telsey raising price targets, though the overall consensus still sits at a Reduce rating.

Goldman Sachs Group Inc. increased its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 67.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,823,034 shares of the company's stock after acquiring an additional 2,750,115 shares during the period. Goldman Sachs Group Inc. owned about 2.57% of Macy's worth $150,448,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Macy's during the fourth quarter worth $85,020,000. Invesco Ltd. increased its stake in shares of Macy's by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock worth $49,941,000 after purchasing an additional 2,639,132 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Macy's by 39.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company's stock valued at $106,701,000 after purchasing an additional 1,697,412 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Macy's in the 4th quarter valued at about $30,722,000. Finally, LSV Asset Management lifted its stake in Macy's by 26.1% in the 4th quarter. LSV Asset Management now owns 6,004,835 shares of the company's stock valued at $132,407,000 after purchasing an additional 1,244,631 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy's News Roundup

Here are the key news stories impacting Macy's this week:

• Positive Sentiment: Macy’s reported earnings that topped estimates across the board, with comps rising 3% year over year and management raising its full-year outlook, signaling that the turnaround strategy is working. Why Is Macy's (M) Stock Rocketing Higher Today
• Positive Sentiment: JPMorgan and Telsey both raised their price targets on Macy’s, reflecting improved confidence in the company’s earnings power and recovery trajectory. Price target raised by JPMorgan Chase & Co.
• Positive Sentiment: Traders bought significantly more call options than usual, a sign that some investors are positioning for additional upside after the earnings beat.
• Neutral Sentiment: Macy’s also announced it will participate in the Evercore Consumer and Retail Conference, which keeps the company in front of investors but does not materially change fundamentals. Macy's, Inc. to Participate in 6th Annual Evercore Consumer and Retail Conference
• Neutral Sentiment: Coverage also highlighted Berkshire Hathaway’s new stake in Macy’s and broader interest in the retailer’s improving prospects, adding to the bullish narrative around the stock. Why Macy's Stock Jumped 11% in May
• Negative Sentiment: The removal of Macy’s long-running Herald Square “shopping bag” billboard is a symbolic change, but it is more of a branding/cultural story than a direct financial driver. Macy's 60-year-old ‘shopping bag' billboard in Herald Square to be demolished

Insider Transactions at Macy's

In related news, CEO Olivier Bron sold 7,228 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $129,525.76. Following the transaction, the chief executive officer directly owned 21,590 shares in the company, valued at approximately $386,892.80. This represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $179,379.20. Following the completion of the transaction, the executive vice president owned 108,008 shares in the company, valued at $1,935,503.36. This trade represents a 8.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 94,967 shares of company stock worth $1,705,276 over the last quarter. 1.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

M has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating and set a $22.00 price target on shares of Macy's in a research report on Wednesday, March 18th. JPMorgan Chase & Co. lifted their target price on Macy's from $21.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday. Telsey Advisory Group boosted their target price on Macy's from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a research note on Friday, March 27th. Finally, TD Cowen cut their price target on Macy's from $21.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $20.30.

Macy's Stock Up 0.1%

Macy's stock opened at $22.19 on Monday. The company's 50-day moving average price is $19.62 and its two-hundred day moving average price is $20.57. The company has a quick ratio of 0.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.50. The stock has a market cap of $5.85 billion, a P/E ratio of 9.17 and a beta of 1.48. Macy's, Inc. has a twelve month low of $10.54 and a twelve month high of $24.41.

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, beating the consensus estimate of $0.02 by $0.11. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.61 billion. Macy's had a return on equity of 13.68% and a net margin of 2.94%.The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $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. As a group, analysts expect that Macy's, Inc. will post 2.15 EPS for the current year.

Macy's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.1915 per share. The ex-dividend date is Monday, June 15th. This represents a $0.77 annualized dividend and a yield of 3.5%. Macy's's dividend payout ratio (DPR) is presently 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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