Macy's, Inc. $M is RWC Asset Management LLP's Largest Position

Key Points

• RWC Asset Management LLP increased its Macy’s stake slightly in the fourth quarter and now holds 10.97 million shares, making Macy’s its largest portfolio position at about 11.9% of assets.
• Macy’s reported better-than-expected quarterly results, with EPS of $0.13 versus the $0.02 estimate and revenue of $4.89 billion versus $4.61 billion expected. The company also raised its outlook for Q2 2026 and fiscal 2026.
• The company recently declared a quarterly dividend of $0.1915 per share, implying a 3.5% annual yield, while analysts remain mixed overall with a consensus rating of “Reduce” and a $20.30 price target.

RWC Asset Management LLP boosted its stake in Macy's, Inc. (NYSE:M - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,965,149 shares of the company's stock after buying an additional 62,839 shares during the period. Macy's accounts for approximately 11.9% of RWC Asset Management LLP's portfolio, making the stock its largest position. RWC Asset Management LLP owned 4.12% of Macy's worth $241,782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of M. American Century Companies Inc. increased its stake in shares of Macy's by 6.6% during the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company's stock valued at $193,004,000 after purchasing an additional 669,729 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Macy's by 1.1% during the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company's stock valued at $174,608,000 after purchasing an additional 110,548 shares in the last quarter. State Street Corp increased its stake in shares of Macy's by 0.5% during the second quarter. State Street Corp now owns 9,420,372 shares of the company's stock valued at $111,547,000 after purchasing an additional 45,997 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Macy's by 67.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,823,034 shares of the company's stock valued at $150,448,000 after purchasing an additional 2,750,115 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Macy's by 26.1% during the fourth 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 in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Tracy M. Preston sold 5,271 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the completion of the sale, the executive vice president owned 28,773 shares of the company's stock, valued at $515,612.16. This trade represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the sale, the chief executive officer directly owned 21,590 shares of the company's stock, valued at $386,892.80. This trade represents a 25.08% decrease in their position. 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 sold 94,967 shares of company stock worth $1,705,276 over the last three months. 1.05% of the stock is currently owned by insiders.

Macy's Price Performance

Shares of M opened at $22.19 on Monday. The company has a market capitalization of $5.85 billion, a P/E ratio of 9.17 and a beta of 1.48. 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 firm has a 50 day moving average of $19.62 and a 200 day moving average of $20.57. 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 announced its quarterly earnings results on Wednesday, June 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.11. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.61 billion. Macy's had a net margin of 2.94% and a return on equity of 13.68%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm 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, equities research analysts anticipate that Macy's, Inc. will post 2.15 earnings per share for the current fiscal year.

Macy's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.1915 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.5%. Macy's's dividend payout ratio (DPR) is 31.40%.

Key Headlines Impacting Macy's

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on M shares. Evercore set a $22.00 target price on shares of Macy's in a research note on Thursday. Citigroup raised their target price on shares of Macy's from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday. UBS Group reaffirmed a "sell" rating on shares of Macy's in a research note on Thursday. Jefferies Financial Group reaffirmed a "buy" rating and set a $22.00 target price on shares of Macy's in a research note on Wednesday, March 18th. Finally, TD Cowen decreased their target price on shares of Macy's from $21.00 to $20.00 and set a "hold" rating for the company in a research note on Thursday, March 19th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Macy's has an average rating of "Reduce" and a consensus price target of $20.30.

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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