Norges Bank Invests $85.02 Million in Macy's, Inc. $M

Key Points

• Norges Bank bought 3.86 million Macy’s shares in the fourth quarter, building a stake valued at about $85.0 million and representing 1.45% of the retailer. This adds to the broad institutional interest in Macy’s, with 87.36% of shares now owned by institutions.
• Macy’s reported better-than-expected quarterly results, posting EPS of $0.13 versus estimates of $0.02 and revenue of $4.89 billion versus $4.61 billion expected. The company also raised its full-year outlook, and multiple news items noted improving investor sentiment and rising price targets from analysts.
• Despite the strong earnings beat, Wall Street remains mixed: the stock carries a consensus rating of "Reduce" with a $20.30 average price target, even as some firms like Evercore and Jefferies set $22 targets. Macy’s also announced a quarterly dividend of $0.1915 per share, yielding about 3.5% annualized.

Norges Bank bought a new position in shares of Macy's, Inc. (NYSE:M - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,855,764 shares of the company's stock, valued at approximately $85,020,000. Norges Bank owned 1.45% of Macy's at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in Macy's in the 4th quarter valued at about $919,000. Rothschild Investment LLC increased its position in shares of Macy's by 572.2% during the fourth quarter. Rothschild Investment LLC now owns 2,998 shares of the company's stock valued at $66,000 after buying an additional 2,552 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Macy's by 31.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,528 shares of the company's stock valued at $78,000 after buying an additional 851 shares during the period. Intech Investment Management LLC grew its holdings in shares of Macy's by 540.1% during the fourth quarter. Intech Investment Management LLC now owns 125,154 shares of the company's stock worth $2,760,000 after purchasing an additional 105,601 shares in the last quarter. Finally, Baker Avenue Asset Management LP purchased a new position in shares of Macy's during the fourth quarter worth about $259,000. 87.36% of the stock is currently owned by institutional investors.

Macy's News Roundup

Here are the key news stories impacting Macy's this week:

• Positive Sentiment: Macy’s reported earnings that topped estimates across the board, with comps rising 3% year over year and management raising its full-year outlook, signaling that the turnaround strategy is working. Why Is Macy's (M) Stock Rocketing Higher Today
• Positive Sentiment: JPMorgan and Telsey both raised their price targets on Macy’s, reflecting improved confidence in the company’s earnings power and recovery trajectory. Price target raised by JPMorgan Chase & Co.
• Positive Sentiment: Traders bought significantly more call options than usual, a sign that some investors are positioning for additional upside after the earnings beat.
• Neutral Sentiment: Macy’s also announced it will participate in the Evercore Consumer and Retail Conference, which keeps the company in front of investors but does not materially change fundamentals. Macy's, Inc. to Participate in 6th Annual Evercore Consumer and Retail Conference
• Neutral Sentiment: Coverage also highlighted Berkshire Hathaway’s new stake in Macy’s and broader interest in the retailer’s improving prospects, adding to the bullish narrative around the stock. Why Macy's Stock Jumped 11% in May
• Negative Sentiment: The removal of Macy’s long-running Herald Square “shopping bag” billboard is a symbolic change, but it is more of a branding/cultural story than a direct financial driver. Macy's 60-year-old ‘shopping bag' billboard in Herald Square to be demolished

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore set a $22.00 target price on Macy's in a research note on Thursday. Jefferies Financial Group reissued a "buy" rating and set a $22.00 price objective on shares of Macy's in a research note on Wednesday, March 18th. UBS Group reaffirmed a "sell" rating on shares of Macy's in a research note on Thursday. Zacks Research raised Macy's from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Finally, TD Cowen decreased their price objective on Macy's from $21.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $20.30.

Macy's Trading Down 3.7%

Macy's stock opened at $22.19 on Friday. Macy's, Inc. has a 52-week low of $10.54 and a 52-week high of $24.41. The company has a quick ratio of 0.50, a current ratio of 1.48 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.85 billion, a P/E ratio of 9.17 and a beta of 1.48. The business has a 50-day simple moving average of $19.62 and a two-hundred day simple moving average of $20.56.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.61 billion. During the same period in the previous year, the firm earned $0.16 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. 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. Analysts predict that Macy's, Inc. will post 2.13 EPS for the current year.

Macy's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.1915 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.77 dividend on an annualized basis and a yield of 3.5%. Macy's's payout ratio is presently 31.82%.

Insider Buying and Selling

In related news, CEO Antony Spring sold 50,044 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the sale, the chief executive officer owned 485,791 shares in the company, valued at approximately $8,705,374.72. This represents a 9.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $179,379.20. Following the completion of the transaction, the executive vice president directly owned 108,008 shares in the company, valued at $1,935,503.36. This trade represents a 8.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 94,967 shares of company stock worth $1,705,276. 1.05% of the stock is currently owned by corporate insiders.

About Macy's

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.

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