Readystate Asset Management LP Sells 489,814 Shares of Macy’s, Inc. $M

Readystate Asset Management LP reduced its stake in Macy’s, Inc. (NYSE:M) by 64.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 265,668 shares of the company’s stock after selling 489,814 shares during the period. Readystate Asset Management LP’s holdings in Macy’s were worth $4,763,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Macy’s by 38.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock valued at $2,047,000 after acquiring an additional 45,149 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Macy’s by 5.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock valued at $14,019,000 after purchasing an additional 55,821 shares during the period. Focus Partners Wealth grew its holdings in Macy’s by 33.1% during the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock valued at $731,000 after purchasing an additional 14,489 shares during the period. Yousif Capital Management LLC increased its position in Macy’s by 1.4% in the second quarter. Yousif Capital Management LLC now owns 113,805 shares of the company’s stock worth $1,327,000 after buying an additional 1,557 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Macy’s by 6.9% in the second quarter. New York State Teachers Retirement System now owns 319,350 shares of the company’s stock valued at $3,724,000 after buying an additional 20,533 shares during the period. Institutional investors own 87.36% of the company’s stock.

Insider Activity

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was 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 in the company, valued at $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.09% of the company’s stock.

Macy’s Price Performance

Shares of NYSE:M opened at $22.23 on Wednesday. The company has a 50 day moving average of $22.03 and a 200 day moving average of $19.15. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.91 billion, a P/E ratio of 13.15 and a beta of 1.50. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $24.41.

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

Wall Street Analyst Weigh In

M has been the subject of several research reports. Citigroup increased their price target on Macy’s from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. UBS Group set a $21.00 price target on shares of Macy’s in a research report on Thursday, December 4th. Guggenheim began coverage on shares of Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Morgan Stanley lifted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $20.50.

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.