Advisor Group Inc. boosted its holdings in Macy’s Inc. (NYSE:M) by 34.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,654 shares of the company’s stock after acquiring an additional 22,442 shares during the period. Advisor Group Inc.’s holdings in Macy’s were worth $2,207,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Kistler Tiffany Companies LLC grew its position in Macy’s by 31.3% in the fourth quarter. Kistler Tiffany Companies LLC now owns 8,900 shares of the company’s stock worth $224,000 after buying an additional 2,120 shares during the last quarter. Advisory Services Network LLC boosted its stake in Macy’s by 18.1% in the 4th quarter. Advisory Services Network LLC now owns 14,696 shares of the company’s stock worth $370,000 after purchasing an additional 2,253 shares during the period. Wealthsource Partners LLC boosted its stake in Macy’s by 16.6% in the 3rd quarter. Wealthsource Partners LLC now owns 18,780 shares of the company’s stock worth $410,000 after purchasing an additional 2,675 shares during the period. Enterprise Financial Services Corp boosted its stake in Macy’s by 102.4% in the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock worth $135,000 after purchasing an additional 2,706 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Macy’s by 60.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,046 shares of the company’s stock worth $203,000 after purchasing an additional 3,045 shares during the period. Institutional investors own 86.88% of the company’s stock.
A number of equities research analysts have issued reports on the stock. TheStreet upgraded shares of Macy’s from a “c+” rating to a “b-” rating in a report on Wednesday, March 28th. Morgan Stanley boosted their price objective on shares of Macy’s from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, March 1st. BMO Capital Markets boosted their price objective on shares of Macy’s from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, March 1st. Finally, ValuEngine upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Macy’s currently has a consensus rating of “Hold” and a consensus target price of $26.60.
Shares of M traded down $1.13 on Friday, reaching $29.80. 8,950,493 shares of the company’s stock were exchanged, compared to its average volume of 8,444,207. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.47 and a quick ratio of 0.45. The company has a market cap of $9,083.04, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.75. Macy’s Inc. has a 12 month low of $17.41 and a 12 month high of $31.04.
Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.11. Macy’s had a net margin of 6.23% and a return on equity of 24.93%. The firm had revenue of $8.67 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. analysts expect that Macy’s Inc. will post 3.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend was Wednesday, March 14th. Macy’s’s dividend payout ratio is 40.05%.
In related news, Director Deirdre P. Connelly sold 9,092 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $29.25, for a total transaction of $265,941.00. Following the completion of the transaction, the director now owns 16,184 shares in the company, valued at $473,382. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Felicia Williams sold 10,000 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $29.42, for a total transaction of $294,200.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $294,200. The disclosure for this sale can be found here. Insiders have sold 107,392 shares of company stock valued at $3,173,164 in the last three months. 1.40% of the stock is owned by insiders.
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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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