Voya Investment Management LLC Grows Stake in Macy's, Inc. $M

Key Points

• Voya Investment Management LLC increased its holdings in Macy's by 17.8%, owning 363,841 shares valued at approximately $4.57 million after purchasing an additional 54,880 shares.
• Executive officers, including EVP Danielle L. Kirgan and SVP Paul Griscom, sold a combined total of 212,843 shares worth approximately $3.73 million in the last quarter.
• Macy's announced a quarterly dividend of $0.1824 per share, payable on October 1st, which represents an annualized yield of 4.2%.

Voya Investment Management LLC grew its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 363,841 shares of the company's stock after buying an additional 54,880 shares during the period. Voya Investment Management LLC owned 0.13% of Macy's worth $4,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RWC Asset Management LLP purchased a new position in Macy's during the first quarter valued at approximately $80,868,000. AQR Capital Management LLC boosted its holdings in Macy's by 269.2% in the 1st quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company's stock valued at $65,683,000 after purchasing an additional 3,813,210 shares during the period. Trexquant Investment LP purchased a new stake in shares of Macy's in the first quarter worth $22,059,000. American Century Companies Inc. raised its position in shares of Macy's by 21.9% in the first quarter. American Century Companies Inc. now owns 8,699,534 shares of the company's stock worth $109,266,000 after buying an additional 1,562,402 shares in the last quarter. Finally, Invenomic Capital Management LP raised its position in shares of Macy's by 91.6% in the first quarter. Invenomic Capital Management LP now owns 1,724,214 shares of the company's stock worth $21,656,000 after buying an additional 824,174 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Macy's

In related news, EVP Danielle L. Kirgan sold 100,000 shares of Macy's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.75, for a total value of $1,775,000.00. Following the completion of the sale, the executive vice president owned 136,161 shares in the company, valued at approximately $2,416,857.75. This trade represents a 42.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Griscom sold 12,843 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $17.26, for a total value of $221,670.18. Following the completion of the sale, the senior vice president owned 23,379 shares in the company, valued at approximately $403,521.54. The trade was a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,843 shares of company stock worth $3,726,670. 2.77% of the stock is owned by company insiders.

Macy's Trading Up 2.1%

Shares of NYSE:M traded up $0.36 during trading on Tuesday, reaching $17.25. The company's stock had a trading volume of 1,061,229 shares, compared to its average volume of 7,721,686. The stock has a market capitalization of $4.63 billion, a PE ratio of 9.85 and a beta of 1.78. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.55. The firm's 50 day simple moving average is $14.02 and its two-hundred day simple moving average is $12.70. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, September 3rd. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.22. The firm had revenue of $4.81 billion for the quarter, compared to analysts' expectations of $4.69 billion. Macy's had a return on equity of 15.39% and a net margin of 2.18%.The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. 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, research analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, September 15th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.2%. Macy's's dividend payout ratio is presently 41.71%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group upped their target price on Macy's from $14.50 to $18.50 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Barclays upped their price objective on shares of Macy's from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. upped 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. UBS Group upped their target price on Macy's from $6.00 to $6.50 and gave the company a "sell" rating in a report on Thursday, September 4th. Finally, Zacks Research raised Macy's from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.25.

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.