Stephens Inc. AR Acquires New Holdings in Macy’s, Inc. (NYSE:M)

Stephens Inc. AR acquired a new stake in Macy’s, Inc. (NYSE:MGet Rating) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 20,218 shares of the company’s stock, valued at approximately $493,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marshall Wace LLP lifted its stake in Macy’s by 108.9% in the 4th quarter. Marshall Wace LLP now owns 2,277,263 shares of the company’s stock valued at $59,616,000 after acquiring an additional 1,186,933 shares in the last quarter. Northern Trust Corp lifted its stake in Macy’s by 26.5% in the 4th quarter. Northern Trust Corp now owns 4,681,813 shares of the company’s stock valued at $122,569,000 after acquiring an additional 981,582 shares in the last quarter. CTF Capital Management LP bought a new stake in shares of Macy’s during the 4th quarter worth approximately $23,562,000. Rockefeller Capital Management L.P. raised its stake in shares of Macy’s by 9,825.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 702,241 shares of the company’s stock worth $18,844,000 after purchasing an additional 695,166 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Macy’s during the 4th quarter worth approximately $13,052,000. 85.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Macy’s

In related news, CEO Jeffrey Gennette sold 78,021 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $17.36, for a total value of $1,354,444.56. Following the sale, the chief executive officer now directly owns 405,744 shares of the company’s stock, valued at $7,043,715.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Macy’s news, CEO Jeffrey Gennette sold 78,021 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $17.36, for a total value of $1,354,444.56. Following the completion of the transaction, the chief executive officer now directly owns 405,744 shares in the company, valued at $7,043,715.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP C Elisa D. Garcia sold 15,920 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $17.36, for a total value of $276,371.20. Following the completion of the transaction, the executive vice president now owns 85,541 shares of the company’s stock, valued at $1,484,991.76. The disclosure for this sale can be found here. Insiders have sold 94,290 shares of company stock valued at $1,636,878 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

Macy’s Stock Performance

M opened at $18.12 on Thursday. The firm has a market cap of $4.89 billion, a P/E ratio of 3.44, a price-to-earnings-growth ratio of 0.33 and a beta of 1.71. Macy’s, Inc. has a 52-week low of $15.85 and a 52-week high of $37.95. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.23 and a current ratio of 1.12. The business’s fifty day moving average is $19.77 and its 200-day moving average is $22.89.

Macy’s (NYSE:MGet Rating) last released its earnings results on Thursday, May 26th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.26. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.33 billion. Macy’s had a return on equity of 56.91% and a net margin of 6.42%. Macy’s’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Sell-side analysts expect that Macy’s, Inc. will post 4.57 EPS for the current fiscal year.

Macy’s Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were paid a $0.157 dividend. This represents a $0.63 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, June 14th. Macy’s’s dividend payout ratio (DPR) is presently 11.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on M. JPMorgan Chase & Co. dropped their price objective on Macy’s from $33.00 to $30.00 in a research note on Monday, May 16th. Citigroup dropped their price target on Macy’s from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, May 27th. OTR Global cut Macy’s to a “positive” rating in a research note on Wednesday, May 11th. Telsey Advisory Group dropped their price target on Macy’s from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Friday, May 27th. Finally, Bank of America dropped their price target on Macy’s from $22.00 to $15.00 and set an “underperform” rating on the stock in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.00.

Macy’s Company Profile

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Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

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

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