State Treasurer State of Michigan increased its holdings in shares of Macy’s Inc (NYSE:M) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,630 shares of the company’s stock after acquiring an additional 600 shares during the quarter. State Treasurer State of Michigan’s holdings in Macy’s were worth $2,130,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in M. Private Capital Group LLC boosted its stake in shares of Macy’s by 110.1% in the 4th quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock valued at $30,000 after purchasing an additional 525 shares in the last quarter. Liberty Wealth Management LLC acquired a new stake in shares of Macy’s in the 4th quarter valued at approximately $34,000. We Are One Seven LLC acquired a new stake in shares of Macy’s in the 4th quarter valued at approximately $35,000. NuWave Investment Management LLC boosted its stake in shares of Macy’s by 730.4% in the 1st quarter. NuWave Investment Management LLC now owns 1,777 shares of the company’s stock valued at $43,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Braun Bostich & Associates Inc. boosted its stake in shares of Macy’s by 155.0% in the 4th quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock valued at $49,000 after purchasing an additional 1,009 shares in the last quarter. 90.18% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on M shares. Zacks Investment Research upgraded shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. UBS Group set a $25.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research report on Friday. Deutsche Bank boosted their price target on shares of Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, May 16th. Desjardins restated an “average” rating and issued a $5.25 price target on shares of Macy’s in a research report on Friday, March 22nd. Finally, Goldman Sachs Group upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $21.00 in a research report on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Macy’s presently has an average rating of “Hold” and an average price target of $28.10.

Shares of NYSE:M traded down $0.15 during mid-day trading on Tuesday, hitting $21.43. The company had a trading volume of 248,676 shares, compared to its average volume of 9,715,053. The firm has a market capitalization of $6.69 billion, a P/E ratio of 5.12, a P/E/G ratio of 0.83 and a beta of 0.41. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.19. Macy’s Inc has a one year low of $21.08 and a one year high of $41.99.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. Macy’s’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. On average, analysts anticipate that Macy’s Inc will post 3.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.51 annualized dividend and a dividend yield of 7.05%. Macy’s’s dividend payout ratio is currently 36.12%.

In other news, Director Joyce M. Roche sold 10,000 shares of Macy’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $24.30, for a total value of $243,000.00. Following the completion of the sale, the director now owns 13,647 shares in the company, valued at approximately $331,622.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey Gennette acquired 5,000 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $21.96 per share, with a total value of $109,800.00. Following the purchase, the chairman now directly owns 102,525 shares in the company, valued at $2,251,449. The disclosure for this purchase can be found here. Insiders sold a total of 16,921 shares of company stock valued at $421,238 in the last quarter. 0.55% of the stock is currently owned by company insiders.

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Macy’s Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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