Artemis Investment Management LLP Makes New Investment in Macy's, Inc. $M

Key Points

• Artemis Investment Management LLP purchased a new stake of 124,794 Macy's shares in Q4, valued at about $2.75 million, and institutional investors now own roughly 87.36% of the company.
• Company insiders sold 94,967 shares during the last quarter—including CEO Antony Spring's 50,044-share sale and Olivier Bron's 7,228-share sale on April 6 to cover tax withholding—reducing insider ownership to about 1.05%.
• Macy's financials and outlook: the firm beat quarterly EPS estimates ($1.67 vs. $1.55) on $7.92B revenue, raised its quarterly dividend to $0.1915 (a 3.9% yield), but analysts have trimmed price targets and the stock has an average MarketBeat rating of "Reduce" with a $18.90 target.

Artemis Investment Management LLP purchased a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 124,794 shares of the company's stock, valued at approximately $2,752,000.

Several other large investors have also made changes to their positions in M. V Square Quantitative Management LLC bought a new stake in Macy's during the 4th quarter valued at approximately $29,000. Cullen Frost Bankers Inc. bought a new position in Macy's in the 3rd quarter worth approximately $31,000. Bessemer Group Inc. boosted its stake in Macy's by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock worth $37,000 after purchasing an additional 592 shares during the period. Hantz Financial Services Inc. grew its holdings in Macy's by 101.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company's stock valued at $41,000 after buying an additional 1,162 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in Macy's by 7,265.6% during the 4th quarter. CoreCap Advisors LLC now owns 2,357 shares of the company's stock valued at $52,000 after buying an additional 2,325 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Antony Spring sold 50,044 shares of the firm's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $896,788.48. Following the completion of the sale, the chief executive officer directly owned 485,791 shares in the company, valued at $8,705,374.72. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Macy's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $129,525.76. Following the transaction, the chief executive officer directly owned 21,590 shares of the company's stock, valued at $386,892.80. The trade was a 25.08% decrease in their ownership of the stock. 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 sold 94,967 shares of company stock valued at $1,705,276 over the last quarter. Company insiders own 1.05% of the company's stock.

Macy's Price Performance

Macy's stock opened at $19.68 on Friday. Macy's, Inc. has a 52-week low of $10.54 and a 52-week high of $24.41. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. The firm's fifty day moving average is $18.85 and its 200 day moving average is $20.40. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 8.48 and a beta of 1.47.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.12. Macy's had a net margin of 2.84% and a return on equity of 14.22%. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same period in the previous year, the firm posted $1.80 EPS. The business's quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Macy's, Inc. will post 2.09 EPS for the current fiscal year.

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a yield of 3.9%. This is a boost from Macy's's previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. Macy's's dividend payout ratio (DPR) is currently 33.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup lowered their target price on shares of Macy's from $24.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, March 19th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $20.00 target price on shares of Macy's in a research note on Wednesday, April 1st. JPMorgan Chase & Co. decreased their price target on shares of Macy's from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. Wall Street Zen downgraded shares of Macy's from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $18.90.

Macy's Company Profile

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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