Macy’s, Inc. $M Stake Reduced by Waterfront Wealth Inc.

Waterfront Wealth Inc. lowered its stake in Macy’s, Inc. (NYSE:M) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 182,887 shares of the company’s stock after selling 27,106 shares during the quarter. Waterfront Wealth Inc.’s holdings in Macy’s were worth $3,714,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Macy’s by 11.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,975 shares of the company’s stock worth $2,182,000 after purchasing an additional 10,297 shares during the period. Friedenthal Financial acquired a new stake in Macy’s in the fourth quarter worth about $98,000. Merit Financial Group LLC acquired a new stake in Macy’s in the fourth quarter worth about $239,000. Wright Investors Service Inc. acquired a new stake in Macy’s in the fourth quarter worth about $501,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Macy’s in the fourth quarter worth about $54,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insiders Place Their Bets

In other Macy’s news, EVP Danielle L. Kirgan sold 10,010 shares of Macy’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $179,379.20. Following the transaction, the executive vice president owned 108,008 shares of the company’s stock, valued at $1,935,503.36. The trade was a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 shares of Macy’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $896,788.48. Following the transaction, the chief executive officer directly owned 485,791 shares in the company, valued at approximately $8,705,374.72. This trade represents a 9.34% decrease in their position. 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. In the last 90 days, insiders sold 94,967 shares of company stock worth $1,705,276. Insiders own 1.05% of the company’s stock.

Macy’s Price Performance

NYSE M opened at $19.53 on Monday. The stock’s 50-day moving average price is $19.19 and its two-hundred day moving average price is $20.27. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.15 billion, a PE ratio of 8.42 and a beta of 1.51. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $24.41.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter in the previous year, the company earned $1.80 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts predict that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a dividend of $0.1915 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.77 annualized dividend and a yield of 3.9%. Macy’s’s dividend payout ratio (DPR) is presently 32.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on M shares. Wall Street Zen raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group raised their target price on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $20.00 target price on shares of Macy’s in a research note on Wednesday, April 1st. TD Cowen decreased their target price on Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Finally, Citigroup dropped their price target on Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $18.90.

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.