Macy’s, Inc. (NYSE:M) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its position in shares of Macy’s, Inc. (NYSE:M) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,821 shares of the company’s stock after selling 4,122 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Macy’s were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its position in shares of Macy’s by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock valued at $866,000 after purchasing an additional 554 shares during the period. Private Advisor Group LLC boosted its position in shares of Macy’s by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock valued at $359,000 after purchasing an additional 603 shares during the period. Glassman Wealth Services boosted its position in shares of Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after purchasing an additional 743 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Macy’s by 13.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock valued at $139,000 after purchasing an additional 800 shares during the period. Finally, Yousif Capital Management LLC boosted its position in shares of Macy’s by 0.6% in the 4th quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock valued at $2,820,000 after purchasing an additional 841 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group raised their price objective on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley reduced their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a report on Tuesday, May 21st. Finally, StockNews.com assumed coverage on Macy’s in a report on Thursday. They set a “hold” rating for the company. Two 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.70.

Insider Activity at Macy’s

In other Macy’s news, CFO Adrian V. Mitchell sold 13,279 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $260,666.77. Following the transaction, the chief financial officer now owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Macy’s news, CFO Adrian V. Mitchell sold 13,279 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $260,666.77. Following the transaction, the chief financial officer now owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Antony Spring sold 14,859 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total value of $291,682.17. Following the completion of the transaction, the chief executive officer now directly owns 248,897 shares in the company, valued at approximately $4,885,848.11. The disclosure for this sale can be found here. Insiders have sold a total of 65,430 shares of company stock valued at $1,285,499 in the last 90 days. 2.77% of the stock is owned by corporate insiders.

Macy’s Price Performance

Shares of NYSE:M opened at $19.06 on Thursday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The firm has a market capitalization of $5.27 billion, a PE ratio of 635.33 and a beta of 2.16. The business’s 50 day moving average is $19.08 and its 200-day moving average is $19.30. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The company 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%. Macy’s’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. Sell-side analysts predict that Macy’s, Inc. will post 2.79 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, June 14th. 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.