Hsbc Holdings PLC Sells 170,663 Shares of Macy's, Inc. $M

Key Points

• Hsbc Holdings PLC cut its Macy’s stake by 73.3% in the second quarter, selling 170,663 shares and retaining 62,292 shares valued at approximately $1.46 million. Institutional investors still own 87.36% of the company.
• Macy’s reported quarterly earnings and revenue above expectations, with EPS of $0.63 and revenue of $5.06 billion, up 1.1% year over year. The retailer raised its fiscal 2026 EPS and revenue outlook, although its wider-than-expected projected third-quarter loss remains a concern.
• Analysts maintain a generally cautious view, with Macy’s carrying an average “Hold” rating and a $22.78 price target. The company also declared a quarterly dividend of $0.1915, representing an annualized yield of about 3.5%.

Hsbc Holdings PLC lowered its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 73.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,292 shares of the company's stock after selling 170,663 shares during the quarter. Hsbc Holdings PLC's holdings in Macy's were worth $1,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Bank of America Corp DE increased its stake in Macy's by 23.4% in the first quarter. Bank of America Corp DE now owns 978,206 shares of the company's stock valued at $17,696,000 after acquiring an additional 185,678 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Macy's during the 4th quarter worth $3,524,000. Intech Investment Management LLC raised its holdings in shares of Macy's by 540.1% during the 4th quarter. Intech Investment Management LLC now owns 125,154 shares of the company's stock worth $2,760,000 after buying an additional 105,601 shares in the last quarter. Royal Bank of Canada boosted its stake in Macy's by 149.3% in the first quarter. Royal Bank of Canada now owns 175,506 shares of the company's stock valued at $3,175,000 after buying an additional 105,117 shares in the last quarter. Finally, Amundi grew its holdings in shares of Macy's by 375.7% during the 1st quarter. Amundi now owns 230,041 shares of the company's stock valued at $4,161,000 after purchasing an additional 181,684 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Key Macy's News

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

• Positive Sentiment: Macy’s exceeded analysts’ expectations for second-quarter earnings and revenue. Reported adjusted EPS was approximately $0.40 versus the $0.37 consensus, while revenue rose 1.1% year over year to roughly $4.9 billion. The company also reported growth across its major nameplates. Macy's Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The retailer raised its fiscal 2026 outlook, projecting EPS of $2.15-$2.35 versus a $2.11 consensus and revenue of approximately $21.7-$21.8 billion, above the $21.1 billion consensus. Its sales outlook was supported by higher comparable sales expectations and continued demand from middle- and higher-income customers. Macy's Posts Strong Results and Raises Guidance
• Positive Sentiment: Management said premium merchandise and tariff refunds helped results. The improving sales trend and a roughly 3.5% dividend yield may appeal to income-focused investors if the turnaround continues and cash generation remains solid. Premium Goods Drive Sales Growth
• Neutral Sentiment: BTIG Research reaffirmed its “neutral” rating, indicating that the earnings improvement and valuation are balanced by execution risks in the ongoing turnaround. BTIG Research Rating
• Negative Sentiment: Despite the beat and guidance increase, investors initially focused on Macy’s projected third-quarter adjusted loss of $0.19-$0.23 per share, which is wider than the $0.12 consensus loss. Softer near-term comparable-sales expectations and broader market weakness also pressured sentiment. Macy's Stock and Fiscal 2026 Outlook

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on M shares. Wall Street Zen cut shares of Macy's from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group increased their price target on Macy's from $9.00 to $10.00 and gave the company a "sell" rating in a research note on Wednesday, August 26th. JPMorgan Chase & Co. raised their price objective on Macy's from $21.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Evercore set a $22.00 price objective on Macy's in a research report on Thursday, June 4th. Finally, TD Cowen upped their target price on Macy's from $20.00 to $25.00 and gave the stock a "hold" rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $22.78.

Insider Activity

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

Macy's Trading Up 7.5%

M opened at $22.03 on Friday. Macy's, Inc. has a twelve month low of $16.41 and a twelve month high of $26.58. The company has a quick ratio of 0.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $23.47 and a 200-day moving average of $21.43. The stock has a market cap of $5.79 billion, a PE ratio of 8.07 and a beta of 1.41.

Macy's (NYSE:M - Get Free Report) last announced its earnings results on Thursday, September 10th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.26. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.81 billion. Macy's had a return on equity of 13.21% and a net margin of 3.29%.Macy's's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Macy's has set its Q3 2026 guidance at -0.230--0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. On average, sell-side analysts predict that Macy's, Inc. will post 2.28 EPS for the current year.

Macy's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.1915 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.5%. Macy's's dividend payout ratio is presently 31.82%.

Macy's Profile

Macy's, Inc is an American omnichannel retailer that sells a broad range of merchandise through department stores, specialty stores and digital platforms. Its product offerings include apparel, accessories, beauty products, home furnishings, jewelry, furniture and other consumer goods.

The company operates through several well-known retail banners, including Macy's, Bloomingdale's and Bluemercury. Macy's serves customers primarily in the United States through its stores and e-commerce websites, while Bloomingdale's offers fashion, accessories, beauty and home merchandise through department stores, outlets and digital channels.

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