Public Employees Retirement System of Ohio Invests $2.25 Million in Macy's, Inc. $M

Key Points

• Public Employees Retirement System of Ohio purchased 95,515 Macy’s shares worth approximately $2.25 million during the second quarter. Institutional investors collectively own 87.36% of the company.
• Macy’s reported quarterly EPS of $0.13, beating the $0.02 consensus estimate, while revenue rose 1.8% year over year to $4.89 billion. Analysts maintain a consensus “Hold” rating with a $22.78 target price.
• Macy’s declared a quarterly dividend of $0.1915 per share, equivalent to an annualized $0.77 payout and a 3.3% yield. Shares opened at $23.06, up 2.6%.

Public Employees Retirement System of Ohio purchased a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 95,515 shares of the company's stock, valued at approximately $2,249,000.

Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Macy's by 2.0% in the 1st 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 in the last quarter. RWC Asset Management LLP boosted its holdings in shares of Macy's by 0.6% during the 4th quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company's stock valued at $241,782,000 after acquiring an additional 62,839 shares during the last quarter. State Street Corp boosted its holdings in shares of Macy's by 0.5% during the 2nd quarter. State Street Corp now owns 9,420,372 shares of the company's stock valued at $111,547,000 after acquiring an additional 45,997 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Macy's by 67.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,823,034 shares of the company's stock worth $150,448,000 after acquiring an additional 2,750,115 shares during the period. Finally, LSV Asset Management grew its stake in shares of Macy's by 26.1% in the fourth quarter. LSV Asset Management now owns 6,004,835 shares of the company's stock worth $132,407,000 after acquiring an additional 1,244,631 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Macy's

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on M. Zacks Research raised Macy's from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Weiss Ratings raised Macy's from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Wall Street Zen cut Macy's from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. Telsey Advisory Group increased their target price on Macy's from $20.00 to $23.00 and gave the company a "market perform" rating in a report on Thursday, June 4th. Finally, Evercore set a $22.00 target price on Macy's in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.78.

Macy's Trading Up 2.6%

Shares of Macy's stock opened at $23.06 on Friday. The company's fifty day simple moving average is $23.63 and its 200-day simple moving average is $21.44. The stock has a market capitalization of $6.07 billion, a PE ratio of 9.53 and a beta of 1.41. Macy's, Inc. has a 1-year low of $16.41 and a 1-year high of $26.58. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.48 and a quick ratio of 0.44.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Macy's had a net margin of 2.94% and a return on equity of 13.68%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Macy's, Inc. will post 2.22 earnings per share for the current year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Macy's's payout ratio is currently 31.82%.

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.

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