VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Macy’s, Inc. (NYSE:M – Free Report) by 45.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,359 shares of the company’s stock after buying an additional 41,750 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Macy’s were worth $2,941,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Swiss Life Asset Management Ltd grew its holdings in shares of Macy’s by 78.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 22,810 shares of the company’s stock worth $503,000 after buying an additional 10,060 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Macy’s by 334.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 319,904 shares of the company’s stock worth $7,054,000 after buying an additional 246,193 shares in the last quarter. Ethic Inc. grew its holdings in shares of Macy’s by 6.0% during the fourth quarter. Ethic Inc. now owns 17,840 shares of the company’s stock worth $393,000 after buying an additional 1,015 shares in the last quarter. Strengthening Families & Communities LLC bought a new position in shares of Macy’s during the fourth quarter worth about $28,000. Finally, Praxis Investment Management Inc. acquired a new position in Macy’s during the fourth quarter valued at approximately $220,000. 87.36% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
M has been the subject of several recent research reports. UBS Group increased their price target on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, March 9th. TD Cowen cut their price objective on Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Citigroup cut their price objective on Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a research report on Friday, March 27th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $20.00 price objective on shares of Macy’s in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $18.90.
Macy’s Stock Performance
M opened at $18.34 on Friday. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $24.41. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 7.90 and a beta of 1.47. The business has a 50 day moving average of $18.64 and a 200-day moving average of $20.46. 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 (NYSE:M – Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. The company had revenue of $7.92 billion during 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%.The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.80 earnings per share. On average, equities research analysts expect that Macy’s, Inc. will post 2.09 earnings per share for the current year.
Macy’s Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. Macy’s’s dividend payout ratio is 33.19%.
Insider Transactions at Macy’s
In other news, EVP Danielle L. Kirgan sold 10,010 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $179,379.20. Following the transaction, the executive vice president owned 108,008 shares in the company, valued at approximately $1,935,503.36. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 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 transaction, the chief executive officer owned 485,791 shares in the company, valued at approximately $8,705,374.72. This trade represents a 9.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 ninety days. 1.05% of the stock is currently owned by company insiders.
About Macy’s
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.
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