Perella Weinberg Partners Capital Management LP Takes $4.59 Million Position in Macy’s Inc (M)

Perella Weinberg Partners Capital Management LP bought a new position in Macy’s Inc (NYSE:M) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 132,228 shares of the company’s stock, valued at approximately $4,592,000.

Other institutional investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its holdings in shares of Macy’s by 8,081.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 99,981 shares of the company’s stock worth $3,742,000 after purchasing an additional 98,759 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Macy’s by 11.4% in the 2nd quarter. Van ECK Associates Corp now owns 26,239 shares of the company’s stock worth $982,000 after purchasing an additional 2,694 shares during the period. Beese Fulmer Investment Management Inc. purchased a new position in shares of Macy’s in the 2nd quarter worth approximately $212,000. Zacks Investment Management boosted its holdings in shares of Macy’s by 2.1% in the 2nd quarter. Zacks Investment Management now owns 763,155 shares of the company’s stock worth $28,565,000 after purchasing an additional 15,815 shares during the period. Finally, Tradition Capital Management LLC purchased a new position in shares of Macy’s in the 2nd quarter worth approximately $225,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.

A number of brokerages recently issued reports on M. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, July 18th. Deutsche Bank raised their price target on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Royal Bank of Canada set a $39.00 price target on Macy’s and gave the stock a “hold” rating in a research note on Thursday, August 16th. Standpoint Research lowered Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Cowen raised their price target on Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, August 16th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Macy’s presently has an average rating of “Hold” and an average target price of $34.37.

Shares of NYSE M opened at $35.54 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.06 and a beta of 0.62. Macy’s Inc has a twelve month low of $17.41 and a twelve month high of $41.99.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.20. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. Macy’s’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. Research analysts expect that Macy’s Inc will post 3.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

In other Macy’s news, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the completion of the sale, the president now directly owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William H. Lenehan bought 2,092 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were purchased at an average cost of $35.78 per share, with a total value of $74,851.76. Following the completion of the transaction, the director now owns 8,060 shares in the company, valued at $288,386.80. The disclosure for this purchase can be found here. Insiders own 2.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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