Macy's, Inc. $M Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Macy's, Inc. by 2.4% in Q2, owning over 3.1 million shares valued at approximately $36.8 million.
• Several analysts have raised their price targets for Macy's, with Citigroup increasing its target from $12.00 to $16.00 and Goldman Sachs from $14.50 to $16.50, indicating a generally positive outlook.
• Macy's announced a quarterly dividend of $0.1824 per share, representing a yield of 4.1%, with a payout ratio of 41.71%.

Allianz Asset Management GmbH raised its stake in Macy's, Inc. (NYSE:M - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,157,743 shares of the company's stock after purchasing an additional 74,768 shares during the quarter. Allianz Asset Management GmbH owned 1.16% of Macy's worth $36,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its stake in shares of Macy's by 0.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 205,492 shares of the company's stock valued at $2,581,000 after purchasing an additional 959 shares during the last quarter. Factorial Partners LLC grew its stake in shares of Macy's by 0.9% in the 1st quarter. Factorial Partners LLC now owns 111,000 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,000 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Macy's by 28.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock valued at $57,000 after purchasing an additional 1,087 shares during the last quarter. US Bancorp DE grew its stake in shares of Macy's by 6.7% in the 1st quarter. US Bancorp DE now owns 19,624 shares of the company's stock valued at $246,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Flynn Zito Capital Management LLC grew its stake in shares of Macy's by 7.3% in the 1st quarter. Flynn Zito Capital Management LLC now owns 18,077 shares of the company's stock valued at $227,000 after purchasing an additional 1,232 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on M. BTIG Research started coverage on Macy's in a research note on Tuesday. They issued a "neutral" rating on the stock. Citigroup lifted their price target on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. Telsey Advisory Group restated a "market perform" rating and issued a $17.00 price target (up from $14.00) on shares of Macy's in a research note on Wednesday, September 3rd. The Goldman Sachs Group lifted their price target on Macy's from $14.50 to $16.50 and gave the company a "neutral" rating in a research note on Monday, October 6th. Finally, UBS Group lifted their price target on Macy's from $6.00 to $6.50 and gave the company a "sell" rating in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.45.

Insiders Place Their Bets

In related news, SVP Paul Griscom sold 12,843 shares of Macy's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $17.26, for a total transaction 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. This trade represents a 35.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Danielle L. Kirgan sold 100,000 shares of Macy's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $17.30, for a total value of $1,730,000.00. Following the sale, the executive vice president owned 286,161 shares of the company's stock, valued at approximately $4,950,585.30. This represents a 25.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,843 shares of company stock valued at $3,726,670. Insiders own 1.09% of the company's stock.

Macy's Stock Down 0.8%

M opened at $17.82 on Friday. The business's fifty day moving average is $16.01 and its two-hundred day moving average is $13.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.35 and a current ratio of 1.38. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 10.18 and a beta of 1.78. Macy's, Inc. has a one year low of $9.76 and a one year high of $18.47.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.22. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.69 billion. Macy's had a return on equity of 15.39% and a net margin of 2.18%.Macy's's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, September 15th. Macy's's payout ratio is presently 41.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.