UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 144,539 Shares of Macy’s, Inc. $M

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Macy’s, Inc. (NYSE:M) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 802,155 shares of the company’s stock after selling 144,539 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.30% of Macy’s worth $18,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in M. Dimensional Fund Advisors LP lifted its holdings in shares of Macy’s by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,475,647 shares of the company’s stock valued at $298,035,000 after purchasing an additional 329,675 shares in the last quarter. RWC Asset Management LLP grew its holdings in shares of Macy’s by 0.6% during the fourth quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company’s stock worth $241,782,000 after buying an additional 62,839 shares in the last quarter. State Street Corp raised its position in Macy’s by 0.5% in the 2nd quarter. State Street Corp now owns 9,420,372 shares of the company’s stock valued at $111,547,000 after buying an additional 45,997 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Macy’s by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,823,034 shares of the company’s stock valued at $150,448,000 after buying an additional 2,750,115 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Macy’s by 26.1% in the 4th quarter. LSV Asset Management now owns 6,004,835 shares of the company’s stock valued at $132,407,000 after acquiring an additional 1,244,631 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Performance

Shares of NYSE M opened at $23.06 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.44 and a current ratio of 1.48. The stock has a 50 day moving average price of $23.63 and a 200 day moving average price of $21.44. The stock has a market capitalization of $6.07 billion, a PE ratio of 9.53 and a beta of 1.41. Macy’s, Inc. has a 52 week low of $16.41 and a 52 week high of $26.58.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. Macy’s had a return on equity of 13.68% and a net margin of 2.94%.The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Analysts predict that Macy’s, Inc. will post 2.22 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.1915 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.77 dividend on an annualized basis and a yield of 3.3%. Macy’s’s dividend payout ratio (DPR) is currently 31.82%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on M shares. Zacks Research raised Macy’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Telsey Advisory Group boosted their price objective on shares of Macy’s from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Thursday, June 4th. UBS Group increased their target price on shares of Macy’s from $9.00 to $10.00 and gave the stock a “sell” rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Macy’s from $21.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.78.

Insider Transactions at Macy’s

In other news, EVP Thomas Edwards, Jr. sold 16,419 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $24.89, for a total transaction of $408,668.91. Following the transaction, the executive vice president directly owned 20,000 shares in the company, valued at $497,800. The trade was a 45.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paul Griscom sold 10,077 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $25.63, for a total transaction of $258,273.51. Following the completion of the sale, the senior vice president directly owned 25,373 shares in the company, valued at approximately $650,309.99. The trade was a 28.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.05% of the company’s stock.

Macy’s Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.