Dimensional Fund Advisors LP Purchases 212,791 Shares of Macy's, Inc. $M

Key Points

• Dimensional Fund Advisors LP increased its stake in Macy's, Inc. by 1.4%, now holding approximately 5.73% of the shares, valued at $200.51 million.
• Analysts have mixed ratings on Macy's stock, with a consensus target price of $13.22 and a "Hold" rating, while other firms have issued ratings between "sell," "buy," and "neutral."
• Macy's reported a quarterly earnings per share of $0.16, exceeding expectations, though revenue was down 5.1% year-over-year.

Dimensional Fund Advisors LP lifted its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,964,002 shares of the company's stock after buying an additional 212,791 shares during the period. Dimensional Fund Advisors LP owned about 5.73% of Macy's worth $200,510,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Macy's during the 1st quarter valued at about $29,000. Raiffeisen Bank International AG purchased a new position in shares of Macy's during the 4th quarter valued at about $111,000. Versant Capital Management Inc grew its position in 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 acquiring an additional 7,318 shares during the last quarter. Forum Financial Management LP purchased a new position in Macy's in the 4th quarter worth approximately $177,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Macy's in the 1st quarter worth approximately $142,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy's Price Performance

Shares of NYSE:M traded up $0.6350 during trading on Friday, hitting $13.5750. 6,802,538 shares of the company's stock were exchanged, compared to its average volume of 6,606,957. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $18.13. The business's 50-day simple moving average is $12.29 and its 200 day simple moving average is $12.53. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 6.89 and a beta of 1.79.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Macy's had a return on equity of 16.34% and a net margin of 2.45%.The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The firm's revenue was down 5.1% on a year-over-year basis. Macy's has set its FY 2025 guidance at 1.600-2.000 EPS. As a group, equities analysts predict that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 5.4%. Macy's's payout ratio is 37.06%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on M shares. JPMorgan Chase & Co. lifted their price target on Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Telsey Advisory Group decreased their price target on Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, May 29th. Barclays started coverage on Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target on the stock. Finally, Citigroup reaffirmed a "neutral" rating and issued a $12.00 price target (up from $11.00) on shares of Macy's in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $13.22.

Macy's 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.