Macquarie Group Ltd. lowered its stake in Macy’s, Inc. (NYSE:M – Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,520,883 shares of the company’s stock after selling 74,076 shares during the quarter. Macquarie Group Ltd. owned 0.56% of Macy’s worth $26,600,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Summit Global Investments acquired a new stake in Macy’s during the 1st quarter worth $458,000. Private Advisor Group LLC acquired a new stake in Macy’s during the 1st quarter worth $318,000. WINTON GROUP Ltd boosted its stake in Macy’s by 148.7% during the 1st quarter. WINTON GROUP Ltd now owns 119,984 shares of the company’s stock worth $2,099,000 after purchasing an additional 71,746 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Macy’s by 1.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 46,490 shares of the company’s stock worth $960,000 after purchasing an additional 728 shares during the last quarter. Finally, Webster Bank N. A. boosted its stake in Macy’s by 2,613.0% during the 1st quarter. Webster Bank N. A. now owns 5,019 shares of the company’s stock worth $88,000 after purchasing an additional 4,834 shares during the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.
Insiders Place Their Bets
In other Macy’s news, CEO Antony Spring sold 19,026 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $15.97, for a total transaction of $303,845.22. Following the sale, the chief executive officer now directly owns 198,155 shares in the company, valued at $3,164,535.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Danielle L. Kirgan sold 24,202 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $15.97, for a total transaction of $386,505.94. Following the completion of the transaction, the executive vice president now directly owns 303,272 shares of the company’s stock, valued at $4,843,253.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Antony Spring sold 19,026 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $15.97, for a total value of $303,845.22. Following the transaction, the chief executive officer now directly owns 198,155 shares of the company’s stock, valued at $3,164,535.35. The disclosure for this sale can be found here. Insiders have sold 44,778 shares of company stock worth $710,553 over the last three months. Company insiders own 1.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Macy’s from $20.00 to $18.00 in a research note on Friday, June 2nd. Citigroup reduced their price target on Macy’s from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, August 23rd. Morgan Stanley reduced their price target on Macy’s from $23.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. The Goldman Sachs Group reduced their price target on Macy’s from $23.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. Finally, UBS Group reduced their price target on Macy’s from $12.00 to $10.00 and set a “sell” rating on the stock in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.
Macy’s Stock Down 1.9 %
Shares of M opened at $11.14 on Friday. The firm has a market cap of $3.05 billion, a P/E ratio of 4.13, a price-to-earnings-growth ratio of 0.34 and a beta of 1.88. Macy’s, Inc. has a 12-month low of $11.13 and a 12-month high of $25.12. The company’s 50-day moving average price is $14.40 and its 200 day moving average price is $15.95. The company has a current ratio of 1.26, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71.
Macy’s (NYSE:M – Get Free Report) last issued its quarterly earnings results on Tuesday, August 22nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.07 billion. Macy’s had a net margin of 3.15% and a return on equity of 22.46%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, sell-side analysts forecast that Macy’s, Inc. will post 2.81 earnings per share for the current year.
Macy’s Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.1654 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.66 dividend on an annualized basis and a yield of 5.94%. Macy’s’s dividend payout ratio is 24.44%.
About Macy’s
Macy’s, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy’s, Bloomingdale’s, and bluemercury brands.