Macy’s, Inc. $M is Barington Companies Management LLC’s Largest Position

Barington Companies Management LLC boosted its position in shares of Macy’s, Inc. (NYSE:M) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,300,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Macy’s accounts for about 17.5% of Barington Companies Management LLC’s investment portfolio, making the stock its largest position. Barington Companies Management LLC owned about 0.48% of Macy’s worth $23,309,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in shares of Macy’s during the third quarter worth about $44,362,000. Y Intercept Hong Kong Ltd purchased a new position in Macy’s in the 3rd quarter worth approximately $3,307,000. Allianz Asset Management GmbH lifted its holdings in Macy’s by 2.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock worth $57,791,000 after purchasing an additional 65,395 shares in the last quarter. SummerHaven Investment Management LLC bought a new position in Macy’s in the 3rd quarter worth approximately $1,192,000. Finally, Prudential Financial Inc. boosted its stake in Macy’s by 4.6% in the 2nd quarter. Prudential Financial Inc. now owns 389,238 shares of the company’s stock worth $4,539,000 after purchasing an additional 17,209 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

NYSE:M opened at $18.27 on Friday. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 10.81 and a beta of 1.51. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $24.41. The stock’s 50 day simple moving average is $21.27 and its two-hundred day simple moving average is $19.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, December 3rd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the prior year, the company earned $0.04 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a $0.1915 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, March 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.2%. Macy’s’s payout ratio is presently 43.20%.

Insider Buying and Selling at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the sale, the executive vice president directly owned 51,161 shares in the company, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on M shares. Citigroup reiterated a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. Evercore upped their target price on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. Jefferies Financial Group assumed coverage on shares of Macy’s in a report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 price target on the stock. Guggenheim assumed coverage on shares of Macy’s in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, UBS Group set a $21.00 price objective on shares of Macy’s in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $21.33.

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.