Federated Hermes Inc. Has $802,000 Stake in Macy’s, Inc. (NYSE:M)

Federated Hermes Inc. trimmed its stake in shares of Macy’s, Inc. (NYSE:M) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,849 shares of the company’s stock after selling 4,772 shares during the period. Federated Hermes Inc.’s holdings in Macy’s were worth $802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Macy’s in the 4th quarter valued at $50,000. Fifth Third Bancorp increased its stake in Macy’s by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after buying an additional 2,415 shares during the last quarter. Covestor Ltd increased its stake in Macy’s by 25.5% in the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock valued at $55,000 after buying an additional 969 shares during the last quarter. CWM LLC increased its stake in Macy’s by 241.3% in the 3rd quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $77,000 after buying an additional 4,711 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Macy’s by 1,906.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company’s stock valued at $84,000 after buying an additional 6,862 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Performance

NYSE M opened at $18.15 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. The company has a market capitalization of $4.99 billion, a P/E ratio of 49.05 and a beta of 2.15. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a 50-day moving average price of $19.59 and a two-hundred day moving average price of $17.68.

Macy’s (NYSE:M) last posted 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 firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. Analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.83%. Macy’s’s dividend payout ratio is currently 186.49%.

Insider Buying and Selling

In related news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the transaction, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Macy’s news, CEO Antony Spring sold 14,859 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the transaction, the chief executive officer now owns 248,897 shares in the company, valued at $4,885,848.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 15,070 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the transaction, the executive vice president now owns 306,555 shares in the company, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock valued at $4,405,507 over the last ninety days. 1.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. StockNews.com assumed coverage on shares of Macy’s in a research report on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.45.

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.