Macy’s Inc (NYSE:M) Holdings Trimmed by LSV Asset Management

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LSV Asset Management trimmed its position in Macy’s Inc (NYSE:M) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,343,415 shares of the company’s stock after selling 40,200 shares during the quarter. LSV Asset Management owned 1.41% of Macy’s worth $104,372,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in M. Private Capital Group LLC raised its holdings in shares of Macy’s by 110.1% during the 4th quarter. Private Capital Group LLC now owns 1,002 shares of the company’s stock worth $30,000 after buying an additional 525 shares in the last quarter. Liberty Wealth Management LLC acquired a new position in Macy’s during the 4th quarter worth approximately $34,000. We Are One Seven LLC acquired a new position in Macy’s during the 4th quarter worth approximately $35,000. Braun Bostich & Associates Inc. raised its stake in shares of Macy’s by 155.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock worth $49,000 after purchasing an additional 1,009 shares during the last quarter. Finally, NuWave Investment Management LLC raised its stake in shares of Macy’s by 730.4% in the first quarter. NuWave Investment Management LLC now owns 1,777 shares of the company’s stock worth $43,000 after purchasing an additional 1,563 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

In other news, Chairman Jeffrey Gennette acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of $21.96 per share, for a total transaction of $109,800.00. Following the acquisition, the chairman now directly owns 102,525 shares in the company, valued at $2,251,449. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joyce M. Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total transaction of $243,000.00. Following the completion of the transaction, the director now owns 13,647 shares of the company’s stock, valued at $331,622.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 20,000 shares of company stock worth $432,950 and have sold 16,921 shares worth $421,238. Insiders own 0.55% of the company’s stock.

Shares of NYSE M traded up $0.25 during trading hours on Tuesday, hitting $21.92. The company’s stock had a trading volume of 9,243,801 shares, compared to its average volume of 9,813,847. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32. The stock has a market capitalization of $6.31 billion, a PE ratio of 5.24, a PEG ratio of 0.87 and a beta of 0.50. Macy’s Inc has a 12 month low of $20.02 and a 12 month high of $41.99.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The company had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. Macy’s’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. As a group, equities research analysts anticipate that Macy’s Inc will post 3.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.51 annualized dividend and a yield of 6.89%. Macy’s’s payout ratio is 36.12%.

Several analysts have recently commented on M shares. Desjardins reissued an “average” rating and issued a $5.25 price objective on shares of Macy’s in a research note on Friday, March 22nd. ValuEngine lowered Macy’s from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Deutsche Bank increased their price objective on Macy’s from $27.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, May 16th. Zacks Investment Research lowered Macy’s from a “hold” rating to a “strong sell” rating in a report on Friday, March 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $30.00 price target on shares of Macy’s in a report on Tuesday, February 26th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.58.

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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.

Further Reading: Quiet Period

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

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