Allspring Global Investments Holdings LLC Makes New $4.60 Million Investment in Macy’s, Inc. $M

Allspring Global Investments Holdings LLC purchased a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 202,091 shares of the company’s stock, valued at approximately $4,598,000. Allspring Global Investments Holdings LLC owned approximately 0.08% of Macy’s as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Private Advisory Group LLC purchased a new position in shares of Macy’s during the fourth quarter valued at approximately $1,396,000. Wedge Capital Management L L P NC bought a new stake in shares of Macy’s in the 4th quarter worth $30,722,000. Exchange Traded Concepts LLC bought a new stake in shares of Macy’s in the 4th quarter worth $4,729,000. CoreCap Advisors LLC grew its stake in shares of Macy’s by 7,265.6% in the 4th quarter. CoreCap Advisors LLC now owns 2,357 shares of the company’s stock worth $52,000 after acquiring an additional 2,325 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Macy’s by 17.9% in the 4th quarter. SG Americas Securities LLC now owns 211,813 shares of the company’s stock worth $4,670,000 after acquiring an additional 32,206 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In related news, EVP Tracy M. Preston sold 5,271 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the sale, the executive vice president directly owned 28,773 shares in the company, valued at approximately $515,612.16. This represents a 15.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the sale, the chief executive officer owned 21,590 shares in the company, valued at $386,892.80. The trade was a 25.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 94,967 shares of company stock valued at $1,705,276. 1.09% of the stock is owned by corporate insiders.

Macy’s News Summary

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Intraday market note showed a small uptick for Macy’s on April 6, with Schaeffer’s reporting the shares about 0.6% higher at $17.92 — a short-term bullish signal for momentum traders. Retail Stock Could Be Ready to Burn Options Bears
• Neutral Sentiment: Multiple insiders sold shares on April 6 to cover tax withholding tied to equity vesting — quantity and owners: Paul Griscom (745 shares), Tracy M. Preston (5,271), Olivier Bron (7,228), Danielle L. Kirgan (10,010), and Antony Spring (50,044). These are disclosed Form 4 sales at an average price ≈ $17.92; because filings state the sales were for tax purposes (not discretionary diversification), the transactions are more likely sentiment-neutral than a signal of fundamental concern. Filings: Paul Griscom (SEC filing – Paul Griscom), Tracy Preston (SEC filing – Tracy M. Preston), Olivier Bron (SEC filing – Olivier Bron), Danielle Kirgan (SEC filing – Danielle L. Kirgan), Antony Spring (SEC filing – Antony Spring).

Macy’s Stock Down 0.2%

Macy’s stock opened at $18.10 on Wednesday. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month high of $24.41. The firm has a 50 day moving average price of $19.51 and a 200-day moving average price of $20.19. The company has a market capitalization of $4.77 billion, a P/E ratio of 7.80 and a beta of 1.51. 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) last released its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the business posted $1.80 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts predict that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a $0.1915 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.77 dividend on an annualized basis and a yield of 4.2%. This is an increase from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on M shares. Citigroup decreased their price objective on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Zacks Research lowered shares of Macy’s from a “hold” rating to a “strong sell” rating in a research note on Friday, March 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Macy’s in a research note on Wednesday, March 18th. UBS Group lifted their price target on Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, March 9th. Finally, Wall Street Zen lowered Macy’s from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $18.90.

Macy’s Company Profile

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.