Algert Global LLC Has $4.43 Million Stock Position in Macy’s, Inc. (NYSE:M)

Algert Global LLC raised its position in shares of Macy’s, Inc. (NYSE:M) by 200.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,559 shares of the company’s stock after purchasing an additional 153,789 shares during the period. Algert Global LLC’s holdings in Macy’s were worth $4,427,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in M. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s during the second quarter worth $57,000. Affinity Capital Advisors LLC bought a new stake in shares of Macy’s during the second quarter worth $209,000. Alden Global Capital LLC grew its stake in shares of Macy’s by 56.1% during the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock worth $11,649,000 after buying an additional 218,146 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Macy’s during the second quarter worth $1,238,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macy’s during the second quarter worth $62,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Performance

Shares of M opened at $15.69 on Tuesday. 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 stock has a market capitalization of $4.34 billion, a P/E ratio of 522.83 and a beta of 2.11. The firm’s fifty day simple moving average is $15.73 and its two-hundred day simple moving average is $17.88. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The business 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 business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, analysts predict that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.43%. Macy’s’s dividend payout ratio (DPR) is currently 2,300.00%.

Insider Buying and Selling at Macy’s

In other news, CEO Antony Spring sold 18,981 shares of the company’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 transaction, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the company’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 transaction, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The sale 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 dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction 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 valued at $842,372. 2.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on M shares. Evercore ISI reduced their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. StockNews.com started coverage on shares of Macy’s in a research note on Tuesday. They issued a “hold” rating on the stock. Finally, Morgan Stanley reduced 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 note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.43.

About Macy’s

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.