Cetera Advisor Networks LLC grew its stake in shares of Macy’s Inc (NYSE:M) by 157.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,043 shares of the company’s stock after buying an additional 11,043 shares during the period. Cetera Advisor Networks LLC’s holdings in Macy’s were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of M. Private Capital Group LLC raised its holdings in Macy’s by 110.1% in the fourth quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock worth $30,000 after purchasing an additional 525 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Macy’s in the fourth quarter worth about $34,000. We Are One Seven LLC bought a new position in Macy’s in the fourth quarter worth about $35,000. NuWave Investment Management LLC raised its holdings in Macy’s by 730.4% in the first quarter. NuWave Investment Management LLC now owns 1,777 shares of the company’s stock worth $43,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Braun Bostich & Associates Inc. raised its holdings in Macy’s by 155.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock worth $49,000 after purchasing an additional 1,009 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.
In other Macy’s news, President Harry A. Lawton III purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $21.37 per share, for a total transaction of $106,850.00. Following the completion of the purchase, the president now directly owns 31,038 shares in the company, valued at $663,282.06. The acquisition was disclosed in a document filed with the SEC, which can be accessed through 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 shares were sold at an average price of $25.76, for a total value of $161,000.00. Following the completion of the sale, the director now owns 17,092 shares in the company, valued at $440,289.92. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 20,000 shares of company stock worth $432,950 and sold 16,921 shares worth $421,238. Company insiders own 0.55% of the company’s stock.
M stock traded down $0.21 during mid-day trading on Friday, reaching $21.56. The company had a trading volume of 8,875,317 shares, compared to its average volume of 9,802,767. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32. Macy’s Inc has a fifty-two week low of $20.02 and a fifty-two week high of $41.99. The firm has a market capitalization of $6.58 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.92 and a beta of 0.50.
Macy’s (NYSE:M) last issued its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share for the quarter, topping the 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 business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. On average, analysts expect that Macy’s Inc will post 3.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 7.00%. The ex-dividend date is Thursday, June 13th. Macy’s’s dividend payout ratio (DPR) is 36.12%.
A number of equities research analysts have recently weighed in on the company. UBS Group set a $25.00 price target on Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Goldman Sachs Group upgraded Macy’s from a “sell” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $21.00 in a research report on Thursday, May 16th. Deutsche Bank upped their target price on Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, May 16th. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Finally, ValuEngine lowered Macy’s from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 28th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.58.
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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