Axa S.A. Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

Axa S.A. cut its holdings in Macy’s, Inc. (NYSE:M) by 42.1% during the second quarter, Holdings Channel reports. The institutional investor owned 237,973 shares of the company’s stock after selling 172,751 shares during the period. Axa S.A.’s holdings in Macy’s were worth $4,569,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in Macy’s in the first quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of Macy’s in the 1st quarter valued at about $42,000. Future Financial Wealth Managment LLC purchased a new position in Macy’s during the 1st quarter worth approximately $50,000. EntryPoint Capital LLC acquired a new stake in shares of Macy’s in the first quarter valued at approximately $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Macy’s in the 2nd quarter valued at $57,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Macy’s Price Performance

Macy’s stock opened at $15.25 on Monday. The firm has a market capitalization of $4.22 billion, a PE ratio of 508.33 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 firm’s 50-day simple moving average is $15.74 and its 200 day simple moving average is $17.92. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion during 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 was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. On average, equities research analysts predict 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. Investors of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, September 13th. Macy’s’s payout ratio is 2,300.00%.

Insiders Place Their Bets

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

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.