Macy’s, Inc. (NYSE:M) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in shares of Macy’s, Inc. (NYSE:MFree Report) by 12.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,165 shares of the company’s stock after selling 6,549 shares during the period. Commonwealth Equity Services LLC’s holdings in Macy’s were worth $943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Glassman Wealth Services increased its position in Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the period. Lindbrook Capital LLC increased its position in Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Riverview Trust Co acquired a new stake in Macy’s in the first quarter worth $27,000. Fortitude Family Office LLC acquired a new stake in Macy’s in the fourth quarter worth $50,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Macy’s in the first quarter worth $50,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Stock Down 3.6 %

Shares of M stock opened at $18.93 on Tuesday. The stock’s 50 day simple moving average is $19.06 and its 200 day simple moving average is $19.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 631.00 and a beta of 2.18.

Macy’s (NYSE:MGet Free Report) last released its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue was down 2.7% on a year-over-year basis. As a group, research analysts predict that Macy’s, Inc. will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.67%. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on M. StockNews.com assumed coverage on Macy’s in a research note on Friday. They issued a “hold” rating for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Tuesday, May 21st. TD Cowen raised their target price on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.70.

Get Our Latest Stock Report on M

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.

Further Reading

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

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