RWA Wealth Partners LLC Buys Shares of 10,578 Macy’s, Inc. (NYSE:M)

RWA Wealth Partners LLC bought a new stake in shares of Macy’s, Inc. (NYSE:M) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,578 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently bought and sold shares of M. Vanguard Group Inc. lifted its holdings in Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after buying an additional 1,841,432 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Macy’s by 48.9% during the third quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock worth $61,211,000 after buying an additional 1,730,307 shares during the last quarter. Barclays PLC lifted its holdings in shares of Macy’s by 140.0% during the third quarter. Barclays PLC now owns 2,526,523 shares of the company’s stock worth $29,331,000 after buying an additional 1,473,923 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Macy’s by 20.8% during the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after buying an additional 565,269 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Macy’s news, CEO Antony Spring sold 13,404 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the sale, the chief executive officer now directly owns 223,286 shares in the company, valued at $4,559,500.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul Griscom sold 2,969 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,424 shares of company stock valued at $4,405,507. 1.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

M has been the subject of a number of research analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a report on Thursday, March 28th. TD Cowen cut Macy’s from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. StockNews.com started coverage on Macy’s in a research report on Wednesday. They set a “hold” rating on the stock. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group boosted their price objective on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.45.

Macy’s Price Performance

Macy’s stock opened at $18.44 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. The firm has a market cap of $5.07 billion, a P/E ratio of 49.84 and a beta of 2.15. The business’s fifty day moving average is $19.63 and its two-hundred day moving average is $17.48. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.1737 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. This represents a $0.69 annualized dividend and a yield of 3.77%. Macy’s’s dividend payout ratio is presently 186.49%.

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.