Macy’s, Inc. (NYSE:M) Shares Sold by Investors Research Corp

Investors Research Corp lowered its stake in shares of Macy’s, Inc. (NYSE:M) by 7.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,006 shares of the company’s stock after selling 1,350 shares during the quarter. Investors Research Corp’s holdings in Macy’s were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in M. FinTrust Capital Advisors LLC acquired a new position in Macy’s in the fourth quarter worth $26,000. Quarry LP acquired a new position in Macy’s in the first quarter worth $33,000. Belpointe Asset Management LLC boosted its holdings in Macy’s by 267.1% in the first quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock worth $34,000 after purchasing an additional 1,429 shares during the period. Estabrook Capital Management boosted its holdings in Macy’s by 77.8% in the first quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after purchasing an additional 700 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Macy’s by 221.4% in the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock worth $41,000 after purchasing an additional 2,415 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of NYSE M opened at $18.90 on Tuesday. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm’s 50-day simple moving average is $19.70 and its 200 day simple moving average is $17.09. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.18 billion, a P/E ratio of 51.08 and a beta of 2.15.

Macy’s (NYSE:M) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the previous year, the business earned $1.88 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Equities analysts expect that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.1737 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Thursday, March 14th. Macy’s’s payout ratio is currently 186.49%.

Insider Activity at Macy’s

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the completion of the sale, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock worth $4,405,507 over the last ninety days. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research reports. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. The Goldman Sachs Group boosted their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Morgan Stanley reduced their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. StockNews.com began coverage on shares of Macy’s in a report on Tuesday. They set a “hold” rating for the company. Finally, TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.45.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.