Macy’s, Inc. (NYSE:M) Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its holdings in Macy’s, Inc. (NYSE:MGet Rating) by 9,825.7% in the fourth quarter, HoldingsChannel reports. The firm owned 702,241 shares of the company’s stock after buying an additional 695,166 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Macy’s were worth $18,844,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Macy’s in the fourth quarter valued at approximately $25,000. Confluence Wealth Services Inc. acquired a new position in Macy’s during the 4th quarter worth approximately $31,000. Sageworth Trust Co of South Dakota acquired a new position in Macy’s during the 4th quarter worth approximately $34,000. Covestor Ltd acquired a new position in Macy’s during the 4th quarter worth approximately $47,000. Finally, CWM LLC acquired a new position in Macy’s during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 85.98% of the company’s stock.

In other news, EVP Danielle L. Kirgan sold 10,222 shares of the stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $26.35, for a total transaction of $269,349.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Antony Spring sold 6,407 shares of the stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $25.40, for a total transaction of $162,737.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,465 shares of company stock worth $759,227. Corporate insiders own 0.58% of the company’s stock.

M stock traded up $1.31 on Wednesday, hitting $18.92. The company’s stock had a trading volume of 634,369 shares, compared to its average volume of 13,586,495. The firm has a 50 day moving average of $24.09 and a two-hundred day moving average of $25.82. Macy’s, Inc. has a 1 year low of $15.68 and a 1 year high of $37.95. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 4.12, a price-to-earnings-growth ratio of 0.37 and a beta of 1.77. The company has a current ratio of 1.25, a quick ratio of 0.44 and a debt-to-equity ratio of 0.91.

Macy’s (NYSE:MGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.45. Macy’s had a net margin of 5.84% and a return on equity of 53.59%. The company had revenue of $8.67 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. Macy’s’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities analysts forecast that Macy’s, Inc. will post 4.32 EPS for the current fiscal year.

Macy’s declared that its board has approved a stock buyback plan on Tuesday, February 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Several research firms have commented on M. Zacks Investment Research cut shares of Macy’s from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Thursday, February 17th. Telsey Advisory Group lowered their price target on shares of Macy’s from $40.00 to $30.00 and set a “market perform” rating for the company in a report on Tuesday, February 15th. Credit Suisse Group reduced their price objective on shares of Macy’s from $32.00 to $25.00 and set an “underperform” rating for the company in a research report on Wednesday, February 23rd. Jefferies Financial Group reduced their price objective on shares of Macy’s from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Finally, Evercore ISI upgraded shares of Macy’s from an “in-line” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Wednesday, February 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $32.25.

About Macy’s (Get Rating)

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 January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

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

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