Lecap Asset Management Ltd. Decreases Stake in Macy’s, Inc. $M

Lecap Asset Management Ltd. lowered its holdings in Macy’s, Inc. (NYSE:M) by 64.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,112 shares of the company’s stock after selling 59,976 shares during the period. Lecap Asset Management Ltd.’s holdings in Macy’s were worth $730,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in Macy’s in the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. purchased a new position in Macy’s in the third quarter valued at about $31,000. Bessemer Group Inc. lifted its stake in shares of Macy’s by 41.4% during the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after purchasing an additional 592 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Macy’s by 101.1% during the third quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock worth $41,000 after purchasing an additional 1,162 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Macy’s by 7,265.6% in the fourth quarter. CoreCap Advisors LLC now owns 2,357 shares of the company’s stock worth $52,000 after buying an additional 2,325 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Activity

In other Macy’s news, CEO Olivier Bron sold 7,228 shares of Macy’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the transaction, the chief executive officer directly owned 21,590 shares in the company, valued at approximately $386,892.80. The trade was a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the sale, the executive vice president directly owned 28,773 shares in the company, valued at approximately $515,612.16. This trade represents a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 94,967 shares of company stock worth $1,705,276 in the last quarter. Insiders own 1.05% of the company’s stock.

Macy’s Trading Down 0.0%

Shares of NYSE M opened at $19.53 on Monday. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $24.41. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 8.42 and a beta of 1.51. The business has a fifty day simple moving average of $19.19 and a 200-day simple moving average of $20.27.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.Macy’s’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. Sell-side analysts predict that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a dividend of $0.1915 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is presently 32.76%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on M shares. UBS Group raised their price target on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a report on Monday, March 9th. TD Cowen reduced their target price on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Zacks Research raised shares of Macy’s from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of Macy’s in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Macy’s presently has a consensus rating of “Reduce” and an average price target of $18.90.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.