Macy’s, Inc. $M Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. lessened its position in shares of Macy’s, Inc. (NYSE:M) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,887 shares of the company’s stock after selling 27,106 shares during the quarter. Waterfront Wealth Inc. owned approximately 0.07% of Macy’s worth $3,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Macy’s during the 4th quarter worth $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of Macy’s during the 3rd quarter worth $31,000. Bessemer Group Inc. raised its stake in shares of Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after buying an additional 592 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Macy’s by 101.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock worth $41,000 after buying an additional 1,162 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of Macy’s by 7,265.6% during the 4th 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 last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 0.0%

Shares of NYSE:M opened at $19.53 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $24.41. The stock has a market capitalization of $5.15 billion, a P/E ratio of 8.42 and a beta of 1.51. The stock has a 50-day simple moving average of $19.19 and a 200-day simple moving average of $20.27.

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

Macy’s Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on M shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a research report on Friday, March 27th. JPMorgan Chase & Co. dropped their price objective on Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Wall Street Zen raised Macy’s from a “hold” rating to a “buy” rating in a research report on Saturday. Telsey Advisory Group restated a “market perform” rating and issued a $20.00 price target on shares of Macy’s in a report on Wednesday, April 1st. Finally, Citigroup lowered their price target on Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $18.90.

Insider Buying and Selling

In other Macy’s news, EVP Tracy M. Preston sold 5,271 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $94,456.32. Following the completion of the transaction, the executive vice president owned 28,773 shares in the company, valued at $515,612.16. This represents a 15.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $896,788.48. Following the completion of the transaction, the chief executive officer owned 485,791 shares of the company’s stock, valued at approximately $8,705,374.72. This represents a 9.34% decrease in their position. 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 94,967 shares of company stock worth $1,705,276 in the last 90 days. 1.05% of the stock is owned by insiders.

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.