Macy’s Inc (NYSE:M) Shares Sold by Northern Trust Corp

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Northern Trust Corp trimmed its holdings in Macy’s Inc (NYSE:M) by 4.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,826,581 shares of the company’s stock after selling 227,199 shares during the period. Northern Trust Corp’s holdings in Macy’s were worth $115,982,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Liberty Wealth Management LLC bought a new stake in shares of Macy’s during the 4th quarter valued at about $34,000. Avestar Capital LLC grew its stake in shares of Macy’s by 2,168.2% during the 1st quarter. Avestar Capital LLC now owns 1,497 shares of the company’s stock valued at $35,000 after acquiring an additional 1,431 shares during the period. NuWave Investment Management LLC grew its stake in shares of Macy’s by 730.4% during the 1st quarter. NuWave Investment Management LLC now owns 1,777 shares of the company’s stock valued at $43,000 after acquiring an additional 1,563 shares during the period. Braun Bostich & Associates Inc. grew its stake in shares of Macy’s by 155.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 1,660 shares of the company’s stock valued at $49,000 after acquiring an additional 1,009 shares during the period. Finally, Destination Wealth Management grew its stake in shares of Macy’s by 27.1% during the 1st quarter. Destination Wealth Management now owns 2,344 shares of the company’s stock valued at $56,000 after acquiring an additional 500 shares during the period. Institutional investors own 87.84% of the company’s stock.

A number of brokerages recently issued reports on M. UBS Group set a $25.00 price objective on Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Zacks Investment Research raised Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Deutsche Bank boosted their price target on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, May 16th. Goldman Sachs Group raised Macy’s from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $21.00 in a report on Thursday, May 16th. Finally, Standpoint Research raised Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Macy’s currently has an average rating of “Hold” and a consensus target price of $26.58.

NYSE M opened at $21.77 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 1.42. Macy’s Inc has a 12 month low of $20.02 and a 12 month high of $41.99. The company has a market capitalization of $6.63 billion, a P/E ratio of 5.21, a price-to-earnings-growth ratio of 0.92 and a beta of 0.50.

Macy’s (NYSE:M) last issued its quarterly earnings data 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 business 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%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. As a group, equities analysts forecast 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. Stockholders of record on Friday, June 14th will be issued a dividend of $0.3775 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.51 annualized dividend and a dividend yield of 6.94%. Macy’s’s dividend payout ratio (DPR) is 36.12%.

In other news, Chairman Jeffrey Gennette acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost of $21.96 per share, with a total value of $109,800.00. Following the acquisition, the chairman now directly owns 102,525 shares of the company’s stock, valued at $2,251,449. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deirdre P. Connelly sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $25.76, for a total value of $161,000.00. Following the sale, the director now directly owns 17,092 shares in the company, valued at $440,289.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 20,000 shares of company stock worth $432,950 and have sold 16,921 shares worth $421,238. 0.55% of the stock is owned by corporate 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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