Macy's, Inc. $M Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its Macy’s stake by 94.1% in the third quarter, selling 120,358 shares and retaining 7,574 shares worth approximately $172,000.
• Macy’s reported quarterly EPS of $0.63, beating estimates of $0.37, while revenue rose 1.1% year over year to $5.06 billion. The company also declared a quarterly dividend of $0.1915 per share, equivalent to a 3.2% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $22.78; Macy’s shares opened at $24.11, down 2.5%.

Sterling Capital Management LLC cut its stake in Macy's, Inc. (NYSE:M - Free Report) by 94.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,574 shares of the company's stock after selling 120,358 shares during the period. Sterling Capital Management LLC's holdings in Macy's were worth $172,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in M. Dimensional Fund Advisors LP lifted its position in Macy's by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,475,647 shares of the company's stock worth $298,035,000 after purchasing an additional 329,675 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Macy's by 81.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,763,721 shares of the company's stock valued at $104,266,000 after purchasing an additional 2,594,549 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Macy's by 10.9% during the 1st quarter. Bank of New York Mellon Corp now owns 2,913,622 shares of the company's stock valued at $52,707,000 after purchasing an additional 287,521 shares during the period. Pacer Advisors Inc. increased its position in shares of Macy's by 40.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,881,348 shares of the company's stock valued at $34,034,000 after purchasing an additional 543,867 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Macy's during the 2nd quarter valued at $32,562,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Trading Down 2.5%

Macy's stock opened at $24.11 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 1.59. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 8.83 and a beta of 1.44. Macy's, Inc. has a 1 year low of $16.69 and a 1 year high of $26.58. The firm's 50 day moving average price is $22.80 and its two-hundred day moving average price is $21.68.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.26. Macy's had a return on equity of 13.21% and a net margin of 3.29%. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. Macy's has set its Q3 2026 guidance at -0.230--0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. On average, research analysts predict that Macy's, Inc. will post 2.32 EPS for the current fiscal year.

Macy's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.1915 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.2%. Macy's's payout ratio is 28.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on M. TD Cowen initiated coverage on Macy's in a report on Friday. They issued a "hold" rating for the company. Citigroup lifted their target price on Macy's from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, August 25th. Zacks Research lowered Macy's from a "strong-buy" rating to a "hold" rating in a report on Friday, September 11th. Morgan Stanley began coverage on shares of Macy's in a research report on Monday, July 6th. They issued an "overweight" rating and a $30.00 price target on the stock. Finally, Weiss Ratings raised shares of Macy's from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $22.78.

About Macy's

Macy's, Inc NYSE: M is an American omnichannel retailer that operates department stores and e-commerce businesses. Its merchandise includes apparel, accessories, beauty products, fragrances, home furnishings, jewelry, and other consumer goods.

The company operates through three primary retail brands: Macy's, Bloomingdale's, and Bluemercury. Macy's serves a broad customer base with fashion, beauty, and home products, while Bloomingdale's focuses on premium and luxury merchandise. Bluemercury operates specialty beauty stores and provides skincare, cosmetics, and related services.

Founded in 1858 by Rowland Hussey Macy, the company has grown into one of the best-known department-store retailers in the United States.

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