Calamos Advisors LLC Purchases Shares of 144,838 Macy’s, Inc. (NYSE:M)

Calamos Advisors LLC purchased a new stake in shares of Macy’s, Inc. (NYSE:M) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 144,838 shares of the company’s stock, valued at approximately $2,914,000. Calamos Advisors LLC owned about 0.05% of Macy’s as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in M. FinTrust Capital Advisors LLC bought a new stake in shares of Macy’s in the fourth quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Macy’s in the first quarter valued at approximately $33,000. Belpointe Asset Management LLC boosted its position in shares of Macy’s by 267.1% in the first quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock valued at $34,000 after acquiring an additional 1,429 shares during the period. Estabrook Capital Management boosted its position in shares of Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock valued at $39,000 after acquiring an additional 700 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Macy’s by 221.4% in the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after acquiring an additional 2,415 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 2.7 %

Shares of NYSE M opened at $18.53 on Friday. The stock has a market cap of $5.10 billion, a PE ratio of 50.08 and a beta of 2.15. The business has a fifty day moving average of $19.70 and a two-hundred day moving average of $17.26. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy’s (NYSE:M) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. As a group, equities research analysts expect that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.75%. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on M. Morgan Stanley reduced their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. StockNews.com began coverage on Macy’s in a research report on Tuesday, April 16th. They issued a “hold” rating for the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Thursday, March 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group raised their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Macy’s has an average rating of “Hold” and an average target price of $17.45.

Insider Activity

In other news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the sale, the director now directly owns 994,301 shares in the company, valued at $20,303,626.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,424 shares of company stock worth $4,405,507. 1.52% of the stock is owned by corporate insiders.

Macy’s Company Profile

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.