Private Advisory Group LLC Invests $1.40 Million in Macy’s, Inc. $M

Private Advisory Group LLC acquired a new position in Macy’s, Inc. (NYSE:M) during the 4th quarter, Holdings Channel reports. The fund acquired 63,327 shares of the company’s stock, valued at approximately $1,396,000.

A number of other large investors have also recently added to or reduced their stakes in M. Wedge Capital Management L L P NC acquired a new position in Macy’s during the fourth quarter worth about $30,722,000. Exchange Traded Concepts LLC purchased a new position in shares of Macy’s during the 4th quarter worth approximately $4,729,000. CoreCap Advisors LLC raised its position in shares of Macy’s by 7,265.6% during the 4th quarter. CoreCap Advisors LLC now owns 2,357 shares of the company’s stock worth $52,000 after purchasing an additional 2,325 shares during the last quarter. SG Americas Securities LLC lifted its stake in Macy’s by 17.9% in the 4th quarter. SG Americas Securities LLC now owns 211,813 shares of the company’s stock valued at $4,670,000 after buying an additional 32,206 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Macy’s by 186.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 80,319 shares of the company’s stock valued at $1,865,000 after buying an additional 52,246 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on M shares. The Goldman Sachs Group raised their price target on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. JPMorgan Chase & Co. cut their target price on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a research note on Friday. Citigroup lowered their price target 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. Finally, UBS Group boosted their price objective on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Macy’s has an average rating of “Reduce” and an average target price of $18.90.

Macy’s Price Performance

Shares of NYSE:M opened at $17.95 on Monday. The company has a market cap of $4.77 billion, a P/E ratio of 7.74 and a beta of 1.51. The business has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $20.16. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $24.41. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last released its earnings results 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. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. Equities research analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

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. The ex-dividend date is Friday, March 13th. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.3%. Macy’s’s payout ratio is presently 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.