Macy's, Inc. $M Stock Holdings Cut by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors reduced its Macy’s stake by 3.1% in the third quarter, selling 65,500 shares and retaining 2.06 million shares worth approximately $46.8 million. Institutional investors collectively own 87.36% of Macy’s stock.
• Analysts maintain a cautious outlook, with Macy’s carrying a consensus “Hold” rating and an average price target of $22.78, despite individual ratings ranging from “Sell” to “Overweight.”
• Macy’s recently exceeded quarterly earnings and revenue expectations, reporting $0.63 EPS on $5.06 billion in revenue. The company also declared a quarterly dividend of $0.1915 per share, representing a 3.2% annualized yield.

Hennessy Advisors Inc. reduced its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,056,200 shares of the company's stock after selling 65,500 shares during the period. Macy's accounts for approximately 1.7% of Hennessy Advisors Inc.'s portfolio, making the stock its 8th biggest holding. Hennessy Advisors Inc. owned 0.79% of Macy's worth $46,820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in M. Dimensional Fund Advisors LP lifted its holdings in shares of Macy's by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 16,475,647 shares of the company's stock worth $298,035,000 after buying an additional 329,675 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Macy's by 81.9% in 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 during the period. Bank of New York Mellon Corp grew its position in Macy's by 10.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,913,622 shares of the company's stock worth $52,707,000 after purchasing an additional 287,521 shares during the last quarter. Pacer Advisors Inc. increased its holdings 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 worth $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 second quarter valued at about $32,562,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on M. Citigroup increased their price target on shares of Macy's from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 25th. UBS Group reiterated a "sell" rating on shares of Macy's in a research note on Thursday, September 17th. Weiss Ratings upgraded shares of Macy's from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Morgan Stanley started coverage on shares of Macy's in a research report on Monday, July 6th. They set an "overweight" rating and a $30.00 target price for the company. Finally, BTIG Research restated a "neutral" rating on shares of Macy's in a research report on Friday, September 11th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.78.

Macy's Price Performance

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

Macy's (NYSE:M - Get Free Report) last released 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. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.81 billion. Macy's had a return on equity of 13.21% and a net margin of 3.29%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. 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. Analysts anticipate that Macy's, Inc. will post 2.32 EPS for the current fiscal year.

Macy's Announces Dividend

The company also recently disclosed 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 is Tuesday, December 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.2%. Macy's's dividend payout ratio is 27.84%.

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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