Macy’s, Inc. $M Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 64.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 73,711 shares of the company’s stock after selling 132,222 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Macy’s were worth $1,322,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in M. Cullen Frost Bankers Inc. purchased a new stake in shares of Macy’s in the 3rd quarter valued at approximately $31,000. Bessemer Group Inc. boosted its position in shares of Macy’s by 41.4% during 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 during the period. Hantz Financial Services Inc. increased its holdings in Macy’s by 101.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock valued at $41,000 after purchasing an additional 1,162 shares during the last quarter. Quent Capital LLC acquired a new stake in Macy’s in the 3rd quarter valued at approximately $107,000. Finally, Jones Financial Companies Lllp raised its position in Macy’s by 71.7% in the third quarter. Jones Financial Companies Lllp now owns 6,362 shares of the company’s stock valued at $115,000 after purchasing an additional 2,656 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Performance

Shares of M stock opened at $17.97 on Tuesday. The firm has a 50 day moving average of $21.19 and a two-hundred day moving average of $19.89. The stock has a market capitalization of $4.78 billion, a PE ratio of 10.63 and a beta of 1.51. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $24.41.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 4.3%. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is 43.20%.

Wall Street Analysts Forecast Growth

M has been the subject of several research analyst reports. UBS Group raised their price target on Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. Guggenheim began coverage on Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Wall Street Zen cut Macy’s from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Jefferies Financial Group assumed coverage on Macy’s in a research report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 target price for the company. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $20.00.

Insider Transactions at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the transaction, the executive vice president directly owned 51,161 shares of the company’s stock, valued at $1,223,771.12. The trade was a 62.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.77% of the company’s stock.

Macy’s Company 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.