Invenomic Capital Management LP Raises Holdings in Macy's, Inc. $M

Key Points

• Invenomic Capital Management LP increased its stake in Macy's, Inc. by 91.6%, owning over 1.7 million shares, which makes it the company's 24th largest holding.
• Macy's reported a quarterly EPS of $0.41, exceeding estimates of $0.19, but experienced a 2.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.1824 per share, reflecting an annual yield of 4.2%, with a payout ratio of 37.06%.

Invenomic Capital Management LP lifted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 91.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,724,214 shares of the company's stock after acquiring an additional 824,174 shares during the quarter. Macy's comprises approximately 1.1% of Invenomic Capital Management LP's holdings, making the stock its 24th biggest holding. Invenomic Capital Management LP owned approximately 0.62% of Macy's worth $21,656,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of M. Summit Securities Group LLC grew its position in Macy's by 106.0% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock worth $28,000 after purchasing an additional 38,800 shares during the last quarter. Headlands Technologies LLC acquired a new position in Macy's in the 1st quarter valued at approximately $29,000. Raiffeisen Bank International AG acquired a new position in Macy's in the 4th quarter valued at approximately $111,000. Quarry LP acquired a new position in shares of Macy's during the 1st quarter worth $105,000. Finally, Versant Capital Management Inc increased its stake in shares of Macy's by 343.4% during the 1st quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock worth $119,000 after purchasing an additional 7,318 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

M has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Macy's from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday. Jefferies Financial Group lifted their price target on shares of Macy's from $14.50 to $18.50 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Telsey Advisory Group reissued a "market perform" rating and set a $17.00 price target (up from $14.00) on shares of Macy's in a report on Wednesday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, UBS Group lifted their price target on shares of Macy's from $6.00 to $6.50 and gave the company a "sell" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.85.

Macy's Stock Performance

Shares of NYSE:M traded down $0.24 during mid-day trading on Monday, reaching $17.10. 11,662,927 shares of the company traded hands, compared to its average volume of 10,313,771. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 0.35. The firm has a market cap of $4.64 billion, a PE ratio of 9.77 and a beta of 1.78. The company's 50 day moving average price is $13.06 and its 200-day moving average price is $12.47. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $18.13.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.41 earnings per share (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 business had revenue of $4.81 billion for the quarter, compared to analysts' expectations of $4.69 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Macy's has set its Q3 2025 guidance at -0.200--0.150 EPS. FY 2025 guidance at 1.700-2.050 EPS. On average, equities analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given 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 yield of 4.3%. Macy's's dividend payout ratio (DPR) is presently 41.71%.

Macy's Company 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.