Jamison Private Wealth Management Inc. Purchases 1,353 Shares of Macy’s, Inc. (NYSE:M)

Jamison Private Wealth Management Inc. increased its position in Macy’s, Inc. (NYSE:M) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,397 shares of the company’s stock after purchasing an additional 1,353 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Macy’s were worth $193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC bought a new position in shares of Macy’s during the fourth quarter valued at $34,000. Jones Financial Companies Lllp lifted its holdings in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC bought a new position in shares of Macy’s during the fourth quarter valued at $38,000. Bessemer Group Inc. lifted its holdings in shares of Macy’s by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of Macy’s during the fourth quarter valued at $111,000. 87.36% of the stock is owned by institutional investors.

Macy’s Price Performance

Shares of M stock opened at $11.04 on Friday. The stock has a 50-day moving average price of $11.63 and a 200 day moving average price of $13.59. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 5.60 and a beta of 1.74. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $20.47.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy’s had a return on equity of 16.34% and a net margin of 2.45%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. The ex-dividend date is Friday, June 13th. This represents a $0.73 annualized dividend and a dividend yield of 6.61%. Macy’s’s payout ratio is currently 37.06%.

Insider Transactions at Macy’s

In other news, CEO Antony Spring sold 4,582 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $58,512.14. Following the completion of the transaction, the chief executive officer now directly owns 288,961 shares in the company, valued at approximately $3,690,031.97. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the completion of the transaction, the executive vice president now owns 116,165 shares of the company’s stock, valued at $1,596,107.10. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,751 shares of company stock worth $537,790. 1.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on M shares. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup reaffirmed a “neutral” rating and issued a $12.00 price target (up from $11.00) on shares of Macy’s in a report on Thursday, May 29th. New Street Research set a $13.00 price target on Macy’s in a report on Thursday, March 6th. JPMorgan Chase & Co. cut their price target on Macy’s from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Finally, Morgan Stanley reaffirmed a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.20.

Macy’s Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.