Mercer Global Advisors Inc. ADV Increases Holdings in Macy’s, Inc. (NYSE:M)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 155.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,920 shares of the company’s stock after purchasing an additional 22,474 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Macy’s were worth $709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crestline Management LP purchased a new stake in Macy’s in the fourth quarter worth $32,192,000. Dimensional Fund Advisors LP increased its holdings in Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after acquiring an additional 1,379,476 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Macy’s in the 4th quarter worth about $19,372,000. Hsbc Holdings PLC raised its stake in Macy’s by 1,044.1% in the 4th quarter. Hsbc Holdings PLC now owns 906,708 shares of the company’s stock valued at $18,331,000 after acquiring an additional 827,456 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Macy’s by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after purchasing an additional 747,542 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 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 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 $6,598,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction dated 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 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 44,665 shares of company stock worth $842,372. Company insiders own 2.77% of the company’s stock.

Macy’s Trading Up 2.3 %

Shares of Macy’s stock opened at $15.21 on Friday. The company has a 50 day simple moving average of $15.77 and a two-hundred day simple moving average of $18.00. The firm has a market cap of $4.20 billion, a PE ratio of 506.83 and a beta of 2.11. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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 return on equity of 23.14% and a net margin of 0.80%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Analysts expect that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid 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 4.57%. Macy’s’s dividend payout ratio (DPR) is currently 2,300.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on M. Morgan Stanley dropped 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 research note on Thursday, August 22nd. StockNews.com started coverage on Macy’s in a report on Monday. They issued a “hold” rating for the company. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Evercore ISI cut their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.