Corient Private Wealth LLC Acquires 7,617 Shares of Macy’s, Inc. (NYSE:M)

Corient Private Wealth LLC lifted its holdings in Macy’s, Inc. (NYSE:M) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 129,570 shares of the company’s stock after acquiring an additional 7,617 shares during the quarter. Corient Private Wealth LLC’s holdings in Macy’s were worth $2,193,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in M. Charles Schwab Investment Management Inc. grew its position in Macy’s by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after acquiring an additional 118,626 shares during the last quarter. FMR LLC grew its holdings in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Macy’s in the third quarter worth $594,000. HB Wealth Management LLC raised its holdings in Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after buying an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA purchased a new stake in Macy’s during the 3rd quarter valued at $2,144,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on M. The Goldman Sachs Group lowered their price objective on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Telsey Advisory Group set a $15.00 price target on Macy’s in a research report on Friday, March 7th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup decreased their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley set a $14.00 price target on shares of Macy’s in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.30.

Macy’s Stock Performance

Shares of M stock opened at $13.27 on Monday. The company’s fifty day moving average price is $14.46 and its 200-day moving average price is $15.32. The stock has a market cap of $3.68 billion, a PE ratio of 22.48 and a beta of 2.07. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 12 month low of $12.60 and a 12 month high of $20.71.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. On average, equities analysts expect that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 5.50%. Macy’s’s payout ratio is presently 35.44%.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.