West Coast Financial LLC bought a new stake in Macy’s Inc (NYSE:M) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,991 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV increased its stake in shares of Macy’s by 4.9% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock worth $1,081,000 after purchasing an additional 1,337 shares in the last quarter. Whittier Trust Co. grew its stake in Macy’s by 21.1% in the 2nd quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock worth $462,000 after acquiring an additional 1,390 shares during the period. Amalgamated Bank grew its stake in Macy’s by 3.7% in the 2nd quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock worth $1,472,000 after acquiring an additional 1,402 shares during the period. Nwam LLC grew its stake in Macy’s by 19.9% in the 3rd quarter. Nwam LLC now owns 9,470 shares of the company’s stock worth $329,000 after acquiring an additional 1,572 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in Macy’s by 2.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock worth $2,697,000 after acquiring an additional 1,609 shares during the period. 90.39% of the stock is owned by institutional investors.

Shares of M opened at $32.34 on Friday. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 0.97 and a beta of 0.71. Macy’s Inc has a fifty-two week low of $17.41 and a fifty-two week high of $41.99. The company has a current ratio of 1.53, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93.

Macy’s (NYSE:M) last announced its quarterly 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. Macy’s’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. Sell-side analysts forecast that Macy’s Inc will post 3.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were issued a $0.3775 dividend. The ex-dividend date was Thursday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.67%. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

Several analysts have commented on the stock. Standpoint Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Morgan Stanley lifted their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Thursday, August 16th. Royal Bank of Canada set a $39.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research note on Thursday, August 16th. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, August 28th. Finally, ValuEngine cut shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $33.35.

In related news, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the transaction, the president now owns 54,722 shares in the company, valued at approximately $1,972,728.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Lenehan bought 2,092 shares of Macy’s stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average price of $35.78 per share, for a total transaction of $74,851.76. Following the acquisition, the director now directly owns 8,060 shares in the company, valued at approximately $288,386.80. The disclosure for this purchase can be found here. Insiders own 2.36% of the company’s stock.

Macy’s Company Profile

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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