Amalgamated Bank Sells 14,240 Shares of Macy’s, Inc. (NYSE:M)

Amalgamated Bank decreased its position in Macy’s, Inc. (NYSE:M) by 7.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,254 shares of the company’s stock after selling 14,240 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Macy’s worth $3,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new position in shares of Macy’s during the 1st quarter worth $27,000. Fidelis Capital Partners LLC bought a new position in Macy’s in the 1st quarter worth $42,000. Future Financial Wealth Managment LLC purchased a new position in Macy’s during the first quarter valued at $50,000. EntryPoint Capital LLC bought a new stake in Macy’s during the first quarter valued at about $51,000. Finally, Parallel Advisors LLC increased its position in Macy’s by 81.4% in the fourth quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock worth $61,000 after buying an additional 1,355 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,665 shares of company stock valued at $842,372. 2.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on M shares. 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 Wednesday, August 21st. Evercore ISI lowered their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. StockNews.com started coverage on shares of Macy’s in a research note on Monday. They issued a “hold” rating for the company. Finally, Morgan Stanley lowered their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Macy’s Stock Performance

Shares of NYSE M opened at $15.16 on Tuesday. The company has a market cap of $4.19 billion, a P/E ratio of 505.33 and a beta of 2.11. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The firm’s fifty day moving average is $15.86 and its two-hundred day moving average is $18.09.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.58%. Macy’s’s dividend payout ratio is currently 2,300.00%.

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.