Belpointe Asset Management LLC decreased its holdings in shares of Macy’s Inc. (NYSE:M) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,106 shares of the company’s stock after selling 3,043 shares during the quarter. Belpointe Asset Management LLC’s holdings in Macy’s were worth $733,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in shares of Macy’s by 7.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,279,451 shares of the company’s stock worth $27,917,000 after acquiring an additional 84,147 shares during the period. Hexavest Inc. bought a new stake in shares of Macy’s in the 4th quarter worth approximately $42,332,000. DekaBank Deutsche Girozentrale lifted its position in shares of Macy’s by 14.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 367,241 shares of the company’s stock worth $7,395,000 after acquiring an additional 45,901 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Macy’s by 14.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock worth $181,666,000 after acquiring an additional 1,076,502 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Macy’s by 34.6% in the 4th quarter. California Public Employees Retirement System now owns 1,209,734 shares of the company’s stock worth $30,473,000 after acquiring an additional 311,230 shares during the period. Hedge funds and other institutional investors own 86.88% of the company’s stock.
M traded down $1.13 during mid-day trading on Friday, reaching $29.80. The stock had a trading volume of 8,950,293 shares, compared to its average volume of 8,444,207. The firm has a market capitalization of $9,427.46, a price-to-earnings ratio of 7.90, a PEG ratio of 1.00 and a beta of 0.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.45 and a current ratio of 1.47. Macy’s Inc. has a 52 week low of $17.41 and a 52 week high of $31.04.
Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.11. The firm had revenue of $8.67 billion for the quarter, compared to analyst estimates of $8.70 billion. Macy’s had a return on equity of 24.93% and a net margin of 6.23%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $2.02 EPS. research analysts forecast that Macy’s Inc. will post 3.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were given a $0.3775 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $1.51 dividend on an annualized basis and a yield of 5.07%. Macy’s’s payout ratio is 40.05%.
M has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $27.00 price objective on shares of Macy’s in a research report on Friday, December 15th. Vetr raised Macy’s from a “buy” rating to a “strong-buy” rating and set a $27.57 target price for the company in a report on Monday, December 18th. OTR Global raised Macy’s to a “sell” rating in a report on Monday, December 18th. Telsey Advisory Group raised their price target on Macy’s from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 28th. Finally, ValuEngine cut Macy’s from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.60.
In other news, Director Marna C. Whittington sold 20,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following the transaction, the director now directly owns 54,834 shares in the company, valued at approximately $1,661,470.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Karen M. Hoguet sold 67,515 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $29.39, for a total value of $1,984,265.85. Following the completion of the transaction, the chief financial officer now owns 67,515 shares in the company, valued at $1,984,265.85. The disclosure for this sale can be found here. Insiders sold a total of 107,392 shares of company stock worth $3,173,164 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
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Macy’s Company Profile
Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.
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