RWA Wealth Partners LLC Takes Position in Macy’s, Inc. (NYSE:M)

RWA Wealth Partners LLC acquired a new position in shares of Macy’s, Inc. (NYSE:M) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,578 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. OLD National Bancorp IN grew its position in Macy’s by 5.0% during the 4th quarter. OLD National Bancorp IN now owns 84,000 shares of the company’s stock worth $1,690,000 after acquiring an additional 4,000 shares during the last quarter. CWM LLC grew its position in Macy’s by 13.9% during the 4th quarter. CWM LLC now owns 7,587 shares of the company’s stock worth $153,000 after acquiring an additional 924 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in 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 buying an additional 944 shares during the period. Greenleaf Trust acquired a new position in Macy’s during the 4th quarter worth about $288,000. Finally, Calamos Advisors LLC acquired a new position in Macy’s during the 4th quarter worth about $2,914,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Up 0.5 %

Shares of NYSE:M opened at $18.44 on Friday. The business’s 50-day moving average is $19.63 and its 200-day moving average is $17.48. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 49.84 and a beta of 2.15.

Macy’s (NYSE:M) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the business earned $1.88 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.1737 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio is 186.49%.

Analysts Set New Price Targets

Several research analysts have commented on M shares. StockNews.com started coverage on Macy’s in a report on Wednesday. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Finally, TD Cowen downgraded Macy’s from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.45.

Insider Buying and Selling

In other Macy’s news, CEO Antony Spring sold 14,859 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the sale, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at approximately $4,885,848.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antony Spring sold 14,859 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the sale, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,424 shares of company stock valued at $4,405,507. 1.52% of the stock is owned by company insiders.

About Macy’s

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.