Handelsinvest Investeringsforvaltning Lowers Holdings in Macy’s, Inc. (NYSE:M)

Handelsinvest Investeringsforvaltning trimmed its holdings in Macy’s, Inc. (NYSE:M) by 34.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,380 shares of the company’s stock after selling 5,908 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Macy’s were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Glassman Wealth Services lifted its position in shares of Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Macy’s by 253.1% in 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 in the last quarter. Riverview Trust Co purchased a new stake in shares of Macy’s in the first quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Macy’s in the fourth quarter worth about $50,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Macy’s during the first quarter worth approximately $50,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy’s Trading Up 0.7 %

M opened at $17.95 on Thursday. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 598.33 and a beta of 2.18. The stock’s 50 day moving average price is $19.03 and its 200-day moving average price is $19.26. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.35 and a current ratio of 1.38.

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

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.1737 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.69 annualized dividend and a yield of 3.87%. Macy’s’s dividend payout ratio (DPR) is currently 2,300.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Tuesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. StockNews.com assumed coverage on Macy’s in a research note on Thursday, June 27th. They set a “hold” rating on the stock. Finally, TD Cowen boosted their price objective on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus target price of $17.70.

Macy’s 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.