Guggenheim Capital LLC trimmed its stake in Macy’s, Inc. (NYSE:M – Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,880 shares of the company’s stock after selling 3,019 shares during the period. Guggenheim Capital LLC’s holdings in Macy’s were worth $820,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FinTrust Capital Advisors LLC acquired a new stake in shares of Macy’s during the 4th quarter valued at about $26,000. Estabrook Capital Management boosted its position in shares of Macy’s by 77.8% during the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock valued at $39,000 after acquiring an additional 700 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Macy’s by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock valued at $48,000 after acquiring an additional 685 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Macy’s by 30.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,370 shares of the company’s stock valued at $49,000 after acquiring an additional 555 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Macy’s during the 1st quarter valued at about $49,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on M shares. Morgan Stanley reduced their price target on shares of Macy’s from $23.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Macy’s from $20.00 to $18.00 in a research report on Friday, June 2nd. UBS Group reduced their price target on shares of Macy’s from $12.00 to $10.00 and set a “sell” rating on the stock in a research report on Wednesday, August 23rd. JPMorgan Chase & Co. dropped their target price on shares of Macy’s from $26.00 to $23.00 in a research note on Friday, June 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price (down from $16.00) on shares of Macy’s in a research note on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.64.
Insider Buying and Selling
In related news, SVP Paul Griscom sold 8,044 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $15.90, for a total transaction of $127,899.60. Following the completion of the transaction, the senior vice president now owns 11,061 shares in the company, valued at $175,869.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Paul Griscom sold 8,044 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $15.90, for a total transaction of $127,899.60. Following the completion of the transaction, the senior vice president now owns 11,061 shares in the company, valued at $175,869.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antony Spring sold 19,026 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $15.97, for a total transaction of $303,845.22. Following the transaction, the chief executive officer now owns 198,155 shares of the company’s stock, valued at approximately $3,164,535.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,610 shares of company stock worth $823,642. 1.52% of the stock is owned by insiders.
Macy’s Stock Down 0.7 %
Shares of NYSE:M opened at $12.15 on Tuesday. Macy’s, Inc. has a 52 week low of $11.86 and a 52 week high of $25.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 1.26. The company has a market capitalization of $3.32 billion, a PE ratio of 4.50, a PEG ratio of 0.36 and a beta of 1.88. The company has a 50 day moving average price of $15.26 and a two-hundred day moving average price of $16.58.
Macy’s (NYSE:M – Get Free Report) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.13. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Macy’s had a net margin of 3.15% and a return on equity of 22.46%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Analysts forecast that Macy’s, Inc. will post 2.83 earnings per share for the current year.
Macy’s Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.1654 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 14th. This represents a $0.66 annualized dividend and a yield of 5.45%. Macy’s’s dividend payout ratio is presently 24.44%.
About Macy’s
Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.
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