Lecap Asset Management Ltd. Buys New Position in Macy’s, Inc. $M

Lecap Asset Management Ltd. purchased a new position in shares of Macy’s, Inc. (NYSE:M) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 93,088 shares of the company’s stock, valued at approximately $1,669,000.

Several other large investors have also modified their holdings of M. UMB Bank n.a. increased its holdings in shares of Macy’s by 523.0% in the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company’s stock valued at $37,000 after acquiring an additional 2,662 shares during the period. Fifth Third Bancorp grew its position in Macy’s by 28.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company’s stock worth $57,000 after purchasing an additional 1,087 shares during the last quarter. GAMMA Investing LLC grew its position in Macy’s by 116.2% during the 2nd quarter. GAMMA Investing LLC now owns 7,590 shares of the company’s stock worth $88,000 after purchasing an additional 4,080 shares during the last quarter. Parallel Advisors LLC increased its stake in Macy’s by 147.8% in the second quarter. Parallel Advisors LLC now owns 8,332 shares of the company’s stock valued at $97,000 after purchasing an additional 4,970 shares during the period. Finally, Mraz Amerine & Associates Inc. purchased a new stake in shares of Macy’s in the second quarter valued at about $117,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Trading Down 3.2%

Shares of M stock opened at $22.47 on Thursday. The business’s fifty day moving average price is $21.73 and its 200 day moving average price is $17.25. The firm has a market capitalization of $5.97 billion, a PE ratio of 13.29 and a beta of 1.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy’s, Inc. has a 1-year low of $9.76 and a 1-year high of $24.41.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.22. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the firm earned $0.04 EPS. The business’s revenue was down .6% on a year-over-year basis. 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.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a $0.1824 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.73 dividend on an annualized basis and a yield of 3.2%. Macy’s’s dividend payout ratio (DPR) is 43.20%.

Analyst Ratings Changes

A number of research firms recently issued reports on M. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. Telsey Advisory Group boosted their target price on Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. Cowen restated a “hold” rating on shares of Macy’s in a research note on Thursday, December 4th. Citigroup lifted their price objective on shares of Macy’s from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, Evercore ISI boosted their price objective on shares of Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research note on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Macy’s presently has an average rating of “Hold” and a consensus price target of $20.50.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 51,161 shares of the company’s stock, valued at $1,223,771.12. The trade was a 62.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.09% of the company’s stock.

Macy’s Company 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.