SCHEDULE: Vanguard Discloses 5.22% Stake in Macy's

Vanguard Portfolio Management has reported beneficial ownership of 13,785,524 shares of Macy's Inc. common stock, representing 5.22% of the class, as of March 31, 2026.

Summary

• Vanguard Portfolio Management, along with its affiliates Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC, has disclosed a beneficial ownership stake in Macy's Inc.
• The total number of shares beneficially owned is 13,785,524.
• This holding represents 5.22% of Macy's Inc. common stock.
• The filing indicates sole voting power for 149,634 shares and sole dispositive power for 13,785,524 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of Macy's Inc.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as it indicates significant institutional confidence from a major player like Vanguard, but it does not provide new operational or financial performance data for Macy's itself.

Positives

• Vanguard's significant investment indicates confidence in Macy's long-term prospects, potentially signaling stability or a positive outlook from a major institutional investor.
• The clear disclosure of ownership provides transparency to the market regarding a substantial shareholder.

Negatives

• The filing does not contain any negative financial or operational information about Macy's; it solely reports Vanguard's ownership stake.

Risks

• While not explicitly stated as a risk in this filing, a large institutional holding can sometimes lead to increased shareholder activism or pressure on management for strategic changes.

Future Outlook

This filing is a snapshot of ownership as of a specific date and does not contain forward-looking statements or guidance from Macy's Inc. itself. Vanguard's investment implies a belief in the future value of Macy's, but no specific future performance is projected within this document.

Management Comments

• "In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC."
• "This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power."
• "This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release."
• "Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that institutional ownership, particularly from large asset managers like Vanguard, is a common indicator of a company's stability and potential for growth within the retail sector. A stake exceeding 5% often signifies a significant level of conviction from the investor.

Comparison to Industry Standards

• Vanguard's ownership of 5.22% in Macy's Inc. places it as a significant institutional holder. Many large-cap retail companies typically have institutional ownership ranging from 60% to 90%.
• For context, major competitors like Nordstrom (JWN) have seen institutional ownership percentages in the high 80s, while Kohl's (KSS) has also maintained substantial institutional backing, often above 70%.
• Vanguard itself manages trillions of dollars across numerous funds, and holding a 5%+ stake in a company like Macy's is consistent with its strategy of investing in established companies within various sectors, including retail.

Stakeholder Impact

• Shareholders: The filing provides transparency on a significant institutional holder, which can influence market perception and potentially attract further investment.
• Management: The presence of a large shareholder like Vanguard may influence strategic decisions and corporate governance practices.
• Creditors: A stable or growing institutional investor base can be viewed positively by creditors, potentially impacting the cost of debt.

Next Steps

• Vanguard will continue to hold or potentially adjust its stake in Macy's Inc. based on its investment strategy.
• Macy's Inc. management will continue to operate the business, with Vanguard as a significant shareholder.

Key Dates

Keywords

Macy's Inc, Vanguard, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Retail