Macy's, Inc. $M Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 23.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 978,206 shares of the company's stock after acquiring an additional 185,678 shares during the period. Bank of America Corp DE owned about 0.37% of Macy's worth $17,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kentucky Retirement Systems purchased a new stake in shares of Macy's in the first quarter valued at about $550,000. Amundi increased its stake in shares of Macy's by 375.7% during the 1st quarter. Amundi now owns 230,041 shares of the company's stock worth $4,161,000 after purchasing an additional 181,684 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Macy's by 18.1% during the 1st quarter. California State Teachers Retirement System now owns 302,035 shares of the company's stock worth $5,464,000 after purchasing an additional 46,343 shares in the last quarter. Readystate Asset Management LP raised its position in shares of Macy's by 53.5% during the 1st quarter. Readystate Asset Management LP now owns 187,715 shares of the company's stock worth $3,396,000 after purchasing an additional 65,431 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Macy's by 149.3% during the 1st quarter. Royal Bank of Canada now owns 175,506 shares of the company's stock worth $3,175,000 after purchasing an additional 105,117 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.

Insider Activity

In other Macy's news, EVP Thomas Jr. Edwards sold 16,419 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total value of $408,668.91. Following the sale, the executive vice president directly owned 20,000 shares of the company's stock, valued at approximately $497,800. This trade represents a 45.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $25.63, for a total value of $258,273.51. Following the completion of the sale, the senior vice president directly owned 25,373 shares in the company, valued at approximately $650,309.99. The trade was a 28.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on M. UBS Group reiterated a "sell" rating on shares of Macy's in a report on Thursday, June 4th. Evercore set a $22.00 price target on Macy's in a report on Thursday, June 4th. Citigroup upped their price objective on Macy's from $18.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Wall Street Zen lowered Macy's from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Macy's from $21.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.70.

Macy's Stock Up 0.7%

Shares of NYSE M opened at $23.40 on Thursday. The firm has a market cap of $6.15 billion, a P/E ratio of 9.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.44 and a current ratio of 1.48. Macy's, Inc. has a 1 year low of $12.66 and a 1 year high of $26.58. The firm's 50 day moving average price is $24.18 and its 200 day moving average price is $21.34.

Macy's (NYSE:M - Get Free Report) last issued 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. Macy's had a return on equity of 13.68% and a net margin of 2.94%.The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the previous year, the firm posted $0.16 EPS. Macy's's revenue was up 1.8% on a year-over-year basis. 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, sell-side analysts anticipate that Macy's, Inc. will post 2.19 earnings per share for the current year.

Macy's Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source