Wedmont Private Capital Has $267,000 Holdings in Macy’s, Inc. (NYSE:M)

Wedmont Private Capital increased its stake in shares of Macy’s, Inc. (NYSE:M) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,570 shares of the company’s stock after purchasing an additional 981 shares during the period. Wedmont Private Capital’s holdings in Macy’s were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in M. Glassman Wealth Services grew its stake in Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after acquiring an additional 743 shares during the period. Lindbrook Capital LLC boosted its position in shares of Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Macy’s during the fourth quarter worth about $50,000. Hexagon Capital Partners LLC boosted its position in shares of Macy’s by 1,166.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock worth $55,000 after buying an additional 2,532 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Macy’s during the fourth quarter worth about $59,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

M has been the subject of several recent research reports. StockNews.com initiated coverage on Macy’s in a research report on Wednesday. They set a “hold” rating for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Tuesday, May 21st. JPMorgan Chase & Co. upped their target price on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. TD Cowen upped their target price on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, Morgan Stanley dropped their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.70.

Insider Buying and Selling at Macy’s

In other news, Director Jeffrey Gennette sold 30,090 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.66, for a total value of $591,569.40. Following the transaction, the director now owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Adrian V. Mitchell sold 3,437 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $20.28, for a total value of $69,702.36. Following the transaction, the chief financial officer now owns 104,200 shares of the company’s stock, valued at $2,113,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Gennette sold 30,090 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $591,569.40. Following the completion of the transaction, the director now directly owns 1,073,699 shares in the company, valued at approximately $21,108,922.34. The disclosure for this sale can be found here. Insiders have sold 95,165 shares of company stock worth $1,888,528 over the last 90 days. Company insiders own 2.77% of the company’s stock.

Macy’s Price Performance

NYSE:M opened at $18.30 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $19.06 and its two-hundred day moving average price is $19.26. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 610.00 and a beta of 2.16. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. On average, analysts anticipate that Macy’s, Inc. will post 2.79 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.1737 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.69 annualized dividend and a yield of 3.80%. Macy’s’s dividend payout ratio is 2,300.00%.

Macy’s Company Profile

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.