Focus Partners Wealth Trims Stock Holdings in Macy’s, Inc. (NYSE:M)

Focus Partners Wealth trimmed its holdings in Macy’s, Inc. (NYSE:M) by 32.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,708 shares of the company’s stock after selling 21,324 shares during the period. Focus Partners Wealth’s holdings in Macy’s were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy’s in the 4th quarter valued at about $34,000. Jones Financial Companies Lllp raised its holdings in shares of Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Macy’s in the 4th quarter valued at about $38,000. Bessemer Group Inc. raised its holdings in shares of Macy’s by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Macy’s during the 4th quarter valued at $115,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Adrian V. Mitchell sold 3,489 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. This represents a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the transaction, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,751 shares of company stock worth $537,790. 1.09% of the stock is currently owned by company insiders.

Macy’s Trading Up 1.9%

Shares of M stock opened at $12.24 on Monday. The stock has a market capitalization of $3.41 billion, a PE ratio of 20.74 and a beta of 1.77. Macy’s, Inc. has a 1-year low of $9.76 and a 1-year high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The business has a 50-day moving average of $12.04 and a 200 day moving average of $14.27.

Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.96%. Macy’s’s payout ratio is 35.44%.

Analysts Set New Price Targets

Several analysts have recently weighed in on M shares. JPMorgan Chase & Co. lowered their price objective on shares of Macy’s from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group cut their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 target price on shares of Macy’s in a research report on Wednesday, April 2nd. Citigroup cut their target price on shares of Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley reiterated a “negative” rating on shares of Macy’s in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.00.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.