International Assets Investment Management LLC Takes $147,000 Position in Macy’s, Inc. (NYSE:M)

International Assets Investment Management LLC purchased a new position in shares of Macy’s, Inc. (NYSE:M) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,283 shares of the company’s stock, valued at approximately $147,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC purchased a new stake in shares of Macy’s during the fourth quarter worth $50,000. Fifth Third Bancorp grew its stake in Macy’s by 221.4% during the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after acquiring an additional 2,415 shares in the last quarter. Covestor Ltd raised its holdings in Macy’s by 25.5% in the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock valued at $55,000 after acquiring an additional 969 shares during the last quarter. CWM LLC lifted its stake in Macy’s by 241.3% in the 3rd quarter. CWM LLC now owns 6,663 shares of the company’s stock worth $77,000 after purchasing an additional 4,711 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Macy’s by 1,906.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company’s stock worth $84,000 after purchasing an additional 6,862 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on M. The Goldman Sachs Group increased their price target on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. StockNews.com initiated coverage on shares of Macy’s in a report on Wednesday, April 24th. They issued a “hold” rating for the company. Morgan Stanley reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Finally, Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $18.00 in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.45.

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the sale, the executive vice president now owns 306,555 shares in the company, valued at approximately $6,259,853.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Danielle L. Kirgan sold 15,070 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $307,729.40. Following the completion of the transaction, the executive vice president now owns 306,555 shares in the company, valued at $6,259,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 14,859 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the sale, the chief executive officer now directly owns 248,897 shares in the company, valued at $4,885,848.11. The disclosure for this sale can be found here. Insiders sold 218,424 shares of company stock valued at $4,405,507 in the last 90 days. Company insiders own 1.52% of the company’s stock.

Macy’s Stock Up 0.7 %

NYSE:M opened at $18.57 on Tuesday. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The stock’s fifty day moving average is $19.61 and its two-hundred day moving average is $17.62. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 50.18 and a beta of 2.15. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.47. The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. Macy’s’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. Research analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.74%. Macy’s’s dividend payout ratio is 186.49%.

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.