HB Wealth Management LLC Purchases New Stake in Macy’s, Inc. (NYSE:M)

HB Wealth Management LLC purchased a new stake in Macy’s, Inc. (NYSE:MFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,872 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds have also bought and sold shares of the company. FinTrust Capital Advisors LLC acquired a new stake in Macy’s in the 4th quarter valued at $26,000. Quarry LP purchased a new position in Macy’s during the 1st quarter worth $33,000. Belpointe Asset Management LLC boosted its holdings in Macy’s by 267.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock worth $34,000 after acquiring an additional 1,429 shares during the last quarter. Estabrook Capital Management boosted its holdings in Macy’s by 77.8% during the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Macy’s by 221.4% during the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock worth $41,000 after acquiring an additional 2,415 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction dated 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 transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Danielle L. Kirgan sold 15,070 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the completion of the transaction, the executive vice president now owns 306,555 shares of the company’s stock, valued at $6,259,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The disclosure for this sale can be found here. Insiders sold 152,994 shares of company stock valued at $3,120,008 in the last quarter. 1.52% of the stock is currently owned by corporate insiders.

Macy’s Trading Up 0.7 %

Shares of Macy’s stock opened at $19.99 on Friday. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The stock’s 50-day simple moving average is $19.52 and its 200 day simple moving average is $16.38. The stock has a market capitalization of $5.48 billion, a P/E ratio of 54.03 and a beta of 2.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy’s (NYSE:MGet Free Report) last announced 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 business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. As a group, research analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is presently 186.49%.

Analyst Upgrades and Downgrades

M has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Macy’s in a report on Saturday, March 23rd. They set a “hold” rating 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 stock a “buy” rating in a report on Wednesday, February 28th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Finally, Morgan Stanley lowered their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and a consensus target price of $17.45.

View Our Latest Research Report on Macy’s

Macy’s Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s, Inc. (NYSE:MFree Report).

Institutional Ownership by Quarter for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.