Barington Capital Group L.P. Decreases Stock Position in Macy’s, Inc. (NYSE:M)

Barington Capital Group L.P. lowered its stake in Macy’s, Inc. (NYSE:M) by 48.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after selling 95,000 shares during the quarter. Macy’s makes up 2.2% of Barington Capital Group L.P.’s investment portfolio, making the stock its 10th largest position. Barington Capital Group L.P.’s holdings in Macy’s were worth $1,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in M. Riverview Trust Co bought a new position in Macy’s in the 1st quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new stake in Macy’s in the first quarter valued at approximately $42,000. Future Financial Wealth Managment LLC purchased a new stake in Macy’s in the first quarter valued at approximately $50,000. EntryPoint Capital LLC bought a new stake in Macy’s during the first quarter valued at approximately $51,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Macy’s in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Up 0.3 %

M opened at $15.25 on Friday. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month 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 business’s 50-day moving average price is $15.74 and its 200-day moving average price is $17.95. The company has a market cap of $4.22 billion, a P/E ratio of 508.33 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts expect that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The company 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. This represents a $0.69 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Insider Activity

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the 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 $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the company’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 $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction dated 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 directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. 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. Insiders own 2.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Evercore ISI lowered their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. StockNews.com initiated coverage on Macy’s in a report on Monday, September 23rd. They issued a “hold” rating for the company. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Macy’s currently has an average rating of “Hold” and an average price target of $20.43.

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.