Macy’s, Inc. (NYSE:M) is Alden Global Capital LLC’s 4th Largest Position

Alden Global Capital LLC lifted its position in Macy’s, Inc. (NYSE:M) by 56.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 606,741 shares of the company’s stock after buying an additional 218,146 shares during the quarter. Macy’s makes up approximately 9.6% of Alden Global Capital LLC’s portfolio, making the stock its 4th biggest holding. Alden Global Capital LLC owned approximately 0.22% of Macy’s worth $11,649,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

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 transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Antony Spring sold 18,981 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 transaction of $359,879.76. Following the completion of the transaction, the chief executive officer now directly owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the company’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 value of $457,827.12. Following the completion of the sale, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders have sold a total of 44,665 shares of company stock valued at $842,372 over the last ninety days. Company insiders own 2.77% of the company’s stock.

Macy’s Trading Down 0.5 %

NYSE M opened at $15.07 on Wednesday. The stock has a 50-day moving average of $15.83 and a 200-day moving average of $18.04. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.18 billion, a PE ratio of 502.33 and a beta of 2.11.

Macy’s (NYSE:M) last released 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 for the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. As a group, sell-side analysts forecast that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.61%. Macy’s’s dividend payout ratio is presently 2,300.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on M. Morgan Stanley decreased their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. StockNews.com began coverage on Macy’s in a research report on Monday. They set a “hold” rating on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Finally, Evercore ISI decreased their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Macy’s has an average rating of “Hold” and an average target price of $19.50.

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.