LSV Asset Management Increases Stock Holdings in Macy’s, Inc. $M

LSV Asset Management lifted its stake in shares of Macy’s, Inc. (NYSE:M) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,004,835 shares of the company’s stock after buying an additional 1,244,631 shares during the quarter. LSV Asset Management’s holdings in Macy’s were worth $132,407,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. increased its holdings in Macy’s by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after purchasing an additional 2,639,132 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Macy’s by 39.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company’s stock worth $106,701,000 after purchasing an additional 1,697,412 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Macy’s during the 4th quarter worth approximately $30,722,000. Ceredex Value Advisors LLC purchased a new stake in Macy’s during the 3rd quarter worth approximately $12,673,000. Finally, Citigroup Inc. increased its holdings in Macy’s by 812.2% during the 3rd quarter. Citigroup Inc. now owns 768,008 shares of the company’s stock worth $13,770,000 after purchasing an additional 683,816 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Macy’s

In other news, CEO Antony Spring sold 50,044 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $896,788.48. Following the completion of the sale, the chief executive officer directly owned 485,791 shares in the company, valued at approximately $8,705,374.72. The trade was a 9.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the business’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 value of $94,456.32. Following the completion of the sale, the executive vice president owned 28,773 shares of the company’s stock, valued at $515,612.16. This trade represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 94,967 shares of company stock valued at $1,705,276 over the last 90 days. Insiders own 1.05% of the company’s stock.

Macy’s Price Performance

Shares of NYSE M opened at $20.69 on Friday. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $24.41. 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 capitalization of $5.46 billion, a price-to-earnings ratio of 8.92 and a beta of 1.47. The business has a 50 day simple moving average of $18.79 and a 200-day simple moving average of $20.45.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating 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 in the previous year, the business earned $1.80 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Macy’s, Inc. will post 2.09 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, June 15th. Macy’s’s payout ratio is 32.76%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Zacks Research upgraded Macy’s from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. TD Cowen dropped their price objective on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Finally, UBS Group lifted their price objective on Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Macy’s presently has a consensus rating of “Reduce” and an average 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.