Lind Value II ApS Raises Holdings in Macy’s, Inc. (NYSE:M)

Lind Value II ApS increased its position in Macy’s, Inc. (NYSE:M) by 169.5% during the first quarter, Holdings Channel reports. The firm owned 1,071,558 shares of the company’s stock after buying an additional 673,891 shares during the quarter. Macy’s makes up approximately 6.0% of Lind Value II ApS’s portfolio, making the stock its 5th largest holding. Lind Value II ApS’s holdings in Macy’s were worth $13,459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Trifecta Capital Advisors LLC bought a new stake in Macy’s in the 4th quarter valued at $34,000. Jones Financial Companies Lllp raised its position in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC bought a new position in shares of Macy’s in the fourth quarter valued at about $38,000. Bessemer Group Inc. raised its position in shares of Macy’s by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in Macy’s in the 4th quarter valued at about $111,000. 87.36% of the stock is owned by institutional investors.

Insider Activity at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Antony Spring sold 4,582 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $58,512.14. Following the sale, the chief executive officer now owns 288,961 shares in the company, valued at $3,690,031.97. This represents a 1.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is owned by insiders.

Macy’s Price Performance

M stock opened at $11.90 on Friday. The company’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $14.06. The firm has a market cap of $3.31 billion, a P/E ratio of 20.16 and a beta of 1.77. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $20.47.

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

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Friday, June 13th. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on M. Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup reiterated a “neutral” rating and set a $12.00 target price (up previously from $11.00) on shares of Macy’s in a research note on Thursday. Telsey Advisory Group lowered their price objective on Macy’s from $15.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday. The Goldman Sachs Group cut Macy’s from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Finally, Morgan Stanley reaffirmed a “negative” rating on shares of Macy’s in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.20.

About Macy’s

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.