Macy's, Inc. $M Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Macy's, Inc. by 3.2%, holding approximately 1.64 million shares valued at $20.65 million after selling 53,986 shares in the first quarter.
• Macy's reported $0.16 EPS in its latest earnings, beating estimates, but revenue decreased by 5.1% year-over-year to $4.60 billion.
• Analysts maintain a mixed view on Macy's stock with an average rating of "Hold" and a price target of $13.22, while several analysts recently adjusted their target prices.

Invesco Ltd. reduced its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 3.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,643,975 shares of the company's stock after selling 53,986 shares during the period. Invesco Ltd. owned about 0.59% of Macy's worth $20,648,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in 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 fourth quarter worth approximately $111,000. Versant Capital Management Inc raised its stake in shares of Macy's by 343.4% during the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after acquiring an additional 7,318 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Macy's during the first quarter valued at approximately $142,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Macy's in the first quarter valued at approximately $146,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Up 4.9%

Shares of NYSE:M traded up $0.6350 on Friday, reaching $13.5750. The company had a trading volume of 6,802,538 shares, compared to its average volume of 6,606,957. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $18.13. The firm's 50 day simple moving average is $12.29 and its 200-day simple moving average is $12.51. The firm has a market capitalization of $3.69 billion, a PE ratio of 6.89 and a beta of 1.79. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share (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 business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the business posted $0.27 EPS. The business's revenue was down 5.1% compared to the same quarter last year. Macy's has set its FY 2025 guidance at 1.600-2.000 EPS. As a group, analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.4%. Macy's's dividend payout ratio is currently 37.06%.

Analyst Ratings Changes

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

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.