HB Wealth Management LLC Sells 1,531 Shares of Macy’s, Inc. (NYSE:M)

HB Wealth Management LLC reduced its position in shares of Macy’s, Inc. (NYSE:M) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,952 shares of the company’s stock after selling 1,531 shares during the period. HB Wealth Management LLC’s holdings in Macy’s were worth $229,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Macy’s by 44.9% in the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after acquiring an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after acquiring an additional 877 shares in the last quarter. Virtu Financial LLC acquired a new stake in Macy’s in the 1st quarter valued at about $1,043,000. Invenomic Capital Management LP acquired a new stake in Macy’s in the 4th quarter valued at about $19,372,000. Finally, Atlas Capital Advisors LLC increased its position in Macy’s by 1,122.9% in the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock valued at $354,000 after acquiring an additional 16,248 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Price Performance

Shares of NYSE M opened at $15.57 on Friday. The stock has a market cap of $4.30 billion, a P/E ratio of 519.00 and a beta of 2.18. The firm has a 50 day moving average price of $17.05 and a 200 day moving average price of $18.58. 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, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. Analysts expect that Macy’s, Inc. will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s payout ratio is currently 2,300.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on M shares. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. TD Cowen lifted their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Evercore ISI lowered their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. StockNews.com initiated coverage on shares of Macy’s in a research report on Friday. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.50.

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the sale, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,464 shares of company stock valued at $824,081. 2.77% of the stock is currently owned by corporate insiders.

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.