Thrivent Financial for Lutherans Buys 30,909 Shares of Macy’s, Inc. $M

Thrivent Financial for Lutherans raised its stake in shares of Macy’s, Inc. (NYSE:M) by 49.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,294 shares of the company’s stock after purchasing an additional 30,909 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Macy’s were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of M. Strengthening Families & Communities LLC bought a new stake in shares of Macy’s in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Macy’s in the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Macy’s in the 3rd quarter worth approximately $31,000. Bessemer Group Inc. lifted its holdings in shares of Macy’s by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after acquiring an additional 592 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Macy’s by 101.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock worth $41,000 after acquiring an additional 1,162 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on M shares. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective on shares of Macy’s in a report on Wednesday, March 18th. Telsey Advisory Group restated a “market perform” rating and issued a $20.00 price objective on shares of Macy’s in a report on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. UBS Group boosted their price objective on shares of Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, March 9th. Finally, Citigroup lowered their price objective on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $18.90.

Macy’s Stock Up 4.6%

Shares of Macy’s stock opened at $21.62 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $18.95 and its two-hundred day simple moving average is $20.47. The company has a market cap of $5.70 billion, a P/E ratio of 9.32 and a beta of 1.47. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $24.41.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.80 EPS. Research analysts anticipate that Macy’s, Inc. will post 2.09 EPS for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s payout ratio is presently 33.19%.

Insider Activity at Macy’s

In other Macy’s news, EVP Tracy M. Preston sold 5,271 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the transaction, the executive vice president directly owned 28,773 shares of the company’s stock, valued at approximately $515,612.16. The trade was a 15.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $179,379.20. Following the transaction, the executive vice president directly owned 108,008 shares in the company, valued at approximately $1,935,503.36. The trade was a 8.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 94,967 shares of company stock valued at $1,705,276 in the last 90 days. 1.05% of the stock is owned by company insiders.

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.