159,837 Shares in Macy's, Inc. $M Bought by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management LLC bought 159,837 shares of Macy’s in the fourth quarter, a position valued at about $3.52 million and representing 0.06% of the company.
• Macy’s reported better-than-expected quarterly earnings and revenue, with EPS of $1.67 versus estimates of $1.55 and revenue of $7.92 billion versus $7.48 billion expected.
• The company also announced a quarterly dividend of $0.1915 per share, implying a 3.5% annualized yield, while analysts currently rate the stock cautiously with an average target price of $18.90.

Kingsview Wealth Management LLC purchased a new position in shares of Macy's, Inc. (NYSE:M - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 159,837 shares of the company's stock, valued at approximately $3,524,000. Kingsview Wealth Management LLC owned 0.06% of Macy's at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of M. Invesco Ltd. boosted its stake in Macy's by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock worth $49,941,000 after purchasing an additional 2,639,132 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Macy's by 39.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company's stock worth $106,701,000 after purchasing an additional 1,697,412 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Macy's during the 4th quarter worth $30,722,000. LSV Asset Management boosted its stake in Macy's by 26.1% during the 4th quarter. LSV Asset Management now owns 6,004,835 shares of the company's stock worth $132,407,000 after purchasing an additional 1,244,631 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new stake in Macy's during the 3rd quarter worth $12,673,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Stock Down 3.0%

M stock opened at $21.78 on Friday. Macy's, Inc. has a one year low of $10.54 and a one year high of $24.41. The stock has a market capitalization of $5.74 billion, a PE ratio of 9.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The company has a fifty day moving average of $19.22 and a 200-day moving average of $20.50.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.55 by $0.12. Macy's had a net margin of 2.84% and a return on equity of 14.22%. The company had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.48 billion. During the same quarter last year, the business earned $1.80 EPS. The business's revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Macy's, Inc. will post 2.1 EPS for the current year.

Macy's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.1915 dividend. This represents a $0.77 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, June 15th. Macy's's dividend payout ratio (DPR) is 33.19%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Macy's from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Telsey Advisory Group reiterated a "market perform" rating and set a $20.00 price target on shares of Macy's in a research note on Wednesday, April 1st. Jefferies Financial Group reiterated a "buy" rating and set a $22.00 price target on shares of Macy's in a research note on Wednesday, March 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Macy's in a research note on Friday, March 27th. Finally, Citigroup decreased their price target on shares of Macy's from $24.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $18.90.

Insider Activity

In other news, CEO Antony Spring sold 50,044 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $896,788.48. Following the completion of the transaction, the chief executive officer owned 485,791 shares in the company, valued at $8,705,374.72. This trade represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the completion of the transaction, the chief executive officer owned 21,590 shares of the company's stock, valued at $386,892.80. This represents a 25.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 94,967 shares of company stock worth $1,705,276 over the last quarter. Insiders own 1.05% of the company's stock.

About Macy's

Macy's, Inc is a leading American omnichannel retailer operating under the Macy's brand, as well as specialty divisions Bloomingdale's and Bluemercury. The company's retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy's seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company's product assortment spans men's, women's and children's clothing, beauty and personal care products, housewares and home décor.

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