Wealth Enhancement Advisory Services LLC Has $486,000 Holdings in Macy’s, Inc. (NYSE:M)

Wealth Enhancement Advisory Services LLC grew its position in Macy’s, Inc. (NYSE:M) by 22.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,731 shares of the company’s stock after acquiring an additional 5,332 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Macy’s were worth $486,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Macy’s in the 4th quarter valued at approximately $2,591,000. Forum Financial Management LP bought a new position in shares of Macy’s during the fourth quarter valued at $177,000. Vise Technologies Inc. lifted its holdings in shares of Macy’s by 37.2% during the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock worth $392,000 after purchasing an additional 6,266 shares during the period. MidWestOne Financial Group Inc. grew its stake in shares of Macy’s by 14.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock worth $2,296,000 after purchasing an additional 17,167 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Macy’s by 13.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,349 shares of the company’s stock worth $17,952,000 after purchasing an additional 122,749 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Ratings Changes

M has been the topic of several analyst reports. Cowen reiterated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Morgan Stanley reaffirmed a “negative” rating on shares of Macy’s in a research note on Tuesday, May 6th. Gordon Haskett cut shares of Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Macy’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Finally, Citigroup reaffirmed a “neutral” rating and set a $12.00 price target (up previously from $11.00) on shares of Macy’s in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.20.

Macy’s Stock Performance

Shares of M opened at $11.88 on Friday. Macy’s, Inc. has a one year low of $9.76 and a one year high of $20.47. The company has a market cap of $3.23 billion, a PE ratio of 20.14 and a beta of 1.74. The stock has a 50-day moving average of $11.61 and a 200-day moving average of $13.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.1824 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.14%. Macy’s’s dividend payout ratio is presently 37.06%.

Insider Activity at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the sale, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Antony Spring sold 20,868 shares of Macy’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock valued at $537,790 over the last 90 days. Insiders own 1.09% of the company’s stock.

Macy’s Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.