Legal & General Group Plc Reduces Stock Position in Macy’s, Inc. $M

by · The Markets Daily

Legal & General Group Plc lowered its position in shares of Macy’s, Inc. (NYSE:M – Free Report) by 19.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 497,947 shares of the company’s stock after selling 117,147 shares during the period. Legal & General Group Plc owned about 0.19% of Macy’s worth $10,980,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in Macy’s by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock valued at $57,791,000 after buying an additional 65,395 shares during the period. Schroder Investment Management Group boosted its position in Macy’s by 1.1% during the 3rd quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock valued at $174,608,000 after buying an additional 110,548 shares during the period. Artemis Investment Management LLP purchased a new stake in Macy’s during the 4th quarter valued at $2,752,000. Wedge Capital Management L L P NC bought a new position in Macy’s in the 4th quarter worth $30,722,000. Finally, Private Advisory Group LLC bought a new position in Macy’s in the 4th quarter worth $1,396,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on M. UBS Group upped their price objective on shares of Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, March 9th. Citigroup decreased their price objective on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. Wall Street Zen lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Telsey Advisory Group restated a “market perform” rating and issued a $20.00 price objective on shares of Macy’s in a report on Wednesday, April 1st. Finally, TD Cowen decreased their price objective on shares of Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $18.90.

Get Our Latest Analysis on Macy’s

Macy’s Trading Up 0.4%

Shares of NYSE M opened at $21.76 on Thursday. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $24.41. The stock has a market cap of $5.74 billion, a P/E ratio of 9.38 and a beta of 1.48. The firm has a 50-day moving average of $19.45 and a 200 day moving average of $20.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50.

Macy’s (NYSE:M – Get Free Report) last issued its quarterly earnings results 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 2.84% and a return on equity of 14.22%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the company posted $0.16 EPS. Macy’s’s revenue was up 1.8% on a year-over-year basis. 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. As a group, sell-side analysts expect that Macy’s, Inc. will post 2.1 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s dividend payout ratio (DPR) is 33.19%.

Insider Buying and Selling at Macy’s

In related news, CEO Antony Spring sold 50,044 shares of Macy’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the transaction, the chief executive officer directly owned 485,791 shares of the company’s stock, valued at $8,705,374.72. This trade represents a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of Macy’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the transaction, the chief executive officer directly owned 21,590 shares of the company’s stock, valued at approximately $386,892.80. This trade represents a 25.08% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 94,967 shares of company stock valued at $1,705,276. Insiders own 1.05% of the company’s stock.

Trending Headlines about Macy’s

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

  • Positive Sentiment: Macy’s posted first-quarter adjusted EPS of $0.13, far ahead of the $0.02 consensus, while revenue of $4.89 billion also topped estimates, signaling better-than-expected execution. Business Wire release
  • Positive Sentiment: The company raised its full-year guidance, with FY 2026 EPS now expected at $2.00 to $2.20 and revenue projected at $21.5 billion to $21.8 billion, both reflecting improved confidence in the business. Wall Street Journal article
  • Positive Sentiment: Comparable sales rose 3% in the quarter, the strongest first-quarter performance in four years, showing customers are responding to Macy’s turnaround strategy and higher-end assortment. CNBC article
  • Positive Sentiment: Momentum at Bloomingdale’s and stronger demand for luxury items were highlighted as key drivers, which may reassure investors that growth is not limited to Macy’s core banner. InvestorsHub article
  • Neutral Sentiment: Second-quarter EPS guidance of $0.29 to $0.34 was slightly below the analyst consensus of $0.35, which could temper some of the optimism around the quarter ahead. InvestorsHub article

Macy’s Company Profile

(Free Report)

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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