Macy’s, Inc. (NYSE:M) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its position in Macy’s, Inc. (NYSE:M) by 43.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,395 shares of the company’s stock after selling 16,249 shares during the quarter. Signaturefd LLC’s holdings in Macy’s were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in M. Lindbrook Capital LLC lifted its holdings in shares of Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares during the period. Greenleaf Trust purchased a new position in shares of Macy’s during the 4th quarter worth about $288,000. Calamos Advisors LLC purchased a new position in shares of Macy’s during the 4th quarter worth about $2,914,000. Xponance Inc. lifted its holdings in shares of Macy’s by 6.2% during the 4th quarter. Xponance Inc. now owns 34,661 shares of the company’s stock worth $697,000 after acquiring an additional 2,013 shares during the period. Finally, Flynn Zito Capital Management LLC lifted its holdings in shares of Macy’s by 23.8% during the 4th quarter. Flynn Zito Capital Management LLC now owns 14,404 shares of the company’s stock worth $290,000 after acquiring an additional 2,768 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on M. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. StockNews.com began coverage on shares of Macy’s in a report on Wednesday. They issued a “hold” rating on the stock. Morgan Stanley cut their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price target on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, The Goldman Sachs Group raised their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.45.

Macy’s Stock Down 1.5 %

Shares of NYSE:M opened at $18.73 on Thursday. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a 50 day moving average of $19.67 and a two-hundred day moving average of $17.42. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 50.62 and a beta of 2.15.

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 the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the company earned $1.88 earnings per share. Macy’s’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

Insider Transactions at Macy’s

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