Zweig DiMenna Associates LLC Purchases 121,000 Shares of Macy’s, Inc. $M

Zweig DiMenna Associates LLC boosted its position in shares of Macy’s, Inc. (NYSE:M) by 268.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 166,000 shares of the company’s stock after acquiring an additional 121,000 shares during the quarter. Zweig DiMenna Associates LLC owned 0.06% of Macy’s worth $2,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in M. GSA Capital Partners LLP raised its position in Macy’s by 219.4% during the third quarter. GSA Capital Partners LLP now owns 54,307 shares of the company’s stock valued at $974,000 after purchasing an additional 37,303 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of Macy’s by 4.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 164,379 shares of the company’s stock valued at $2,947,000 after buying an additional 6,372 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Macy’s by 1.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock valued at $481,000 after acquiring an additional 500 shares during the period. Cidel Asset Management Inc. increased its holdings in shares of Macy’s by 9.0% during the 3rd quarter. Cidel Asset Management Inc. now owns 12,629 shares of the company’s stock valued at $226,000 after purchasing an additional 1,041 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Macy’s during the 3rd quarter valued at approximately $157,000. Institutional investors own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.77% of the company’s stock.

Macy’s Stock Down 1.0%

Macy’s stock opened at $21.61 on Tuesday. Macy’s, Inc. has a one year low of $9.76 and a one year high of $24.41. The company has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $19.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. The firm has a market capitalization of $5.74 billion, a P/E ratio of 12.78 and a beta of 1.50.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. As a group, equities analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on M. Citigroup raised their target price on Macy’s from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Zacks Research cut Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. UBS Group set a $21.00 price objective on shares of Macy’s in a research report on Thursday, December 4th. Finally, Wall Street Zen upgraded Macy’s from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $20.50.

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.