AT Bancorp Reduces Position in Macy’s Inc (M)

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AT Bancorp trimmed its position in shares of Macy’s Inc (NYSE:M) by 17.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,077 shares of the company’s stock after selling 20,805 shares during the quarter. Macy’s makes up approximately 0.4% of AT Bancorp’s investment portfolio, making the stock its 26th largest position. AT Bancorp’s holdings in Macy’s were worth $2,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Investors Research Corp grew its holdings in Macy’s by 1.0% in the 4th quarter. Investors Research Corp now owns 41,039 shares of the company’s stock valued at $1,222,000 after buying an additional 400 shares in the last quarter. Securian Asset Management Inc grew its holdings in Macy’s by 1.3% in the 4th quarter. Securian Asset Management Inc now owns 31,365 shares of the company’s stock valued at $934,000 after buying an additional 403 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Macy’s by 5.5% in the 4th quarter. Park Avenue Securities LLC now owns 8,488 shares of the company’s stock valued at $216,000 after buying an additional 443 shares in the last quarter. Private Capital Group LLC grew its holdings in 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 buying an additional 525 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its holdings in Macy’s by 4.8% in the 4th quarter. Contravisory Investment Management Inc. now owns 11,784 shares of the company’s stock valued at $351,000 after buying an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

M opened at $23.71 on Monday. Macy’s Inc has a 12-month low of $22.73 and a 12-month high of $41.99. The company has a current ratio of 1.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.29 billion, a P/E ratio of 5.67, a PEG ratio of 0.90 and a beta of 0.43.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, February 26th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.20. Macy’s had a return on equity of 21.32% and a net margin of 4.43%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the prior year, the company earned $2.82 EPS. Macy’s’s revenue was down 2.5% on a year-over-year basis. Equities analysts forecast that Macy’s Inc will post 3.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 6.37%. The ex-dividend date is Thursday, March 14th. Macy’s’s payout ratio is 36.12%.

M has been the topic of several recent analyst reports. TheStreet lowered Macy’s from a “b-” rating to a “c+” rating in a research note on Tuesday, February 5th. Bank of America lowered Macy’s from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 10th. ValuEngine lowered Macy’s from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 22nd. OTR Global lowered Macy’s to a “positive” rating in a research note on Wednesday, February 6th. Finally, Gordon Haskett lowered Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Macy’s presently has an average rating of “Hold” and a consensus target price of $31.78.

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About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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

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