Enterprise Financial Services Corp Decreases Position in Macy’s Inc (NYSE:M)

Enterprise Financial Services Corp lowered its position in shares of Macy’s Inc (NYSE:M) by 8.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,482 shares of the company’s stock after selling 432 shares during the period. Enterprise Financial Services Corp’s holdings in Macy’s were worth $108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc increased its position in Macy’s by 6.5% in the 3rd quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock valued at $1,222,675,000 after acquiring an additional 2,133,597 shares during the period. Martingale Asset Management L P acquired a new position in Macy’s in the 3rd quarter valued at about $2,806,000. Westpac Banking Corp increased its position in Macy’s by 1.5% in the 4th quarter. Westpac Banking Corp now owns 52,536 shares of the company’s stock valued at $1,565,000 after acquiring an additional 773 shares during the period. TD Asset Management Inc. boosted its holdings in Macy’s by 1.8% in the 4th quarter. TD Asset Management Inc. now owns 144,969 shares of the company’s stock valued at $4,317,000 after purchasing an additional 2,538 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Macy’s by 52.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 1,197,825 shares of the company’s stock valued at $34,576,000 after purchasing an additional 411,455 shares in the last quarter. Institutional investors and hedge funds own 90.18% of the company’s stock.

Shares of NYSE:M traded up $0.08 during trading on Wednesday, hitting $21.85. 10,620,035 shares of the stock were exchanged, compared to its average volume of 9,761,606. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 0.83 and a beta of 0.41. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.42. Macy’s Inc has a 12-month low of $20.86 and a 12-month high of $41.99.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. On average, equities analysts anticipate that Macy’s Inc will post 3.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Thursday, June 13th. Macy’s’s dividend payout ratio (DPR) is 36.12%.

In related news, Director Joyce M. Roche sold 10,000 shares of Macy’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total transaction of $243,000.00. Following the completion of the transaction, the director now directly owns 13,647 shares in the company, valued at approximately $331,622.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deirdre P. Connelly sold 6,250 shares of Macy’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $25.76, for a total value of $161,000.00. Following the transaction, the director now owns 17,092 shares of the company’s stock, valued at $440,289.92. The disclosure for this sale can be found here. Insiders have sold a total of 16,921 shares of company stock worth $421,238 in the last three months. Corporate insiders own 0.55% of the company’s stock.

A number of equities research analysts have weighed in on M shares. Standpoint Research raised Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Macy’s in a report on Tuesday, February 26th. OTR Global lowered Macy’s to a “positive” rating in a report on Wednesday, February 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Macy’s in a report on Wednesday, February 27th. Finally, ValuEngine lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.10.

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Macy’s Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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