Crossmark Global Holdings Inc. Boosts Stake in Macy’s, Inc. $M

Crossmark Global Holdings Inc. raised its holdings in shares of Macy’s, Inc. (NYSE:M) by 334.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,904 shares of the company’s stock after buying an additional 246,193 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Macy’s were worth $7,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Macy’s by 1.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock worth $481,000 after purchasing an additional 500 shares in the last quarter. Cambria Investment Management L.P. boosted its holdings in shares of Macy’s by 4.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 12,066 shares of the company’s stock worth $216,000 after purchasing an additional 524 shares in the last quarter. Bessemer Group Inc. boosted 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 purchasing an additional 592 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Macy’s by 4.2% in the 3rd quarter. Private Advisor Group LLC now owns 18,444 shares of the company’s stock worth $331,000 after purchasing an additional 750 shares in the last quarter. Finally, Certuity LLC boosted its holdings in shares of Macy’s by 0.9% in the 3rd quarter. Certuity LLC now owns 103,890 shares of the company’s stock worth $1,863,000 after purchasing an additional 880 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on M. Zacks Research upgraded Macy’s from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. TD Cowen cut their price objective on Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, March 19th. UBS Group upped their price objective on Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, March 9th. JPMorgan Chase & Co. cut their price objective on Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $20.00 price objective on shares of Macy’s in a report on Wednesday, April 1st. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Macy’s presently has a consensus rating of “Reduce” and a consensus target price of $18.90.

Insider Buying and Selling

In other news, CEO Antony Spring sold 50,044 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the transaction, the chief executive officer directly owned 485,791 shares in the company, valued at $8,705,374.72. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $94,456.32. Following the transaction, the executive vice president owned 28,773 shares of the company’s stock, valued at $515,612.16. The trade was a 15.48% 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 have sold 94,967 shares of company stock valued at $1,705,276 over the last ninety days. Insiders own 1.05% of the company’s stock.

Macy’s Trading Up 1.3%

NYSE M opened at $19.48 on Friday. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The stock has a 50 day simple moving average of $18.72 and a two-hundred day simple moving average of $20.45. The stock has a market cap of $5.14 billion, a P/E ratio of 8.39 and a beta of 1.47.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. During the same quarter last year, the business posted $1.80 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that Macy’s, Inc. will post 2.09 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a dividend of $0.1915 per share. The ex-dividend date was Friday, March 13th. This is a boost from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a dividend yield of 3.9%. Macy’s’s dividend payout ratio is 33.19%.

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.