Ceredex Value Advisors LLC Makes New Investment in Macy's, Inc. $M

Key Points

• Ceredex Value Advisors LLC bought a new stake of 706,800 Macy's shares (~$12.67M), representing about 0.26% ownership.
• Macy's raised its quarterly dividend to $0.1915 (annualized $0.77) for a ~4.3% yield, up from $0.18 (record date Mar 13, pay date Apr 1).
• Analyst consensus is an average rating of "Reduce" with an average target price of $20.00 (1 Buy, 11 Hold, 2 Sell).

Ceredex Value Advisors LLC bought a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 706,800 shares of the company's stock, valued at approximately $12,673,000. Ceredex Value Advisors LLC owned about 0.26% of Macy's as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of M. Cullen Frost Bankers Inc. bought a new stake in Macy's in the third quarter worth $31,000. Bessemer Group Inc. lifted its position in Macy's by 41.4% during the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock valued at $37,000 after purchasing an additional 592 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Macy's by 101.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company's stock worth $41,000 after buying an additional 1,162 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Macy's in the 3rd quarter worth about $107,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Macy's by 71.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 6,362 shares of the company's stock worth $115,000 after buying an additional 2,656 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Thursday, December 4th. Telsey Advisory Group upped their price objective on Macy's from $22.00 to $25.00 and gave the company a "market perform" rating in a research report on Thursday, December 4th. Citigroup reaffirmed a "neutral" rating on shares of Macy's in a research note on Wednesday, February 18th. Jefferies Financial Group assumed coverage on Macy's in a report on Wednesday, January 14th. They issued a "buy" rating and a $27.00 target price for the company. Finally, Evercore boosted their target price on Macy's from $14.00 to $21.00 and gave the company a "cautious" rating in a research report on Friday, December 5th. One equities 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 has an average rating of "Reduce" and an average target price of $20.00.

Insider Buying and Selling at Macy's

In other news, EVP Danielle L. Kirgan sold 85,000 shares of Macy's stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares of the company's stock, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.77% of the company's stock.

Macy's Trading Up 0.1%

M stock opened at $17.99 on Wednesday. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $24.41. The firm's 50-day moving average is $21.11 and its 200 day moving average is $19.92. The company has a market capitalization of $4.78 billion, a PE ratio of 10.65 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18.

Macy's Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Macy's's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, March 13th. Macy's's dividend payout ratio is 43.20%.

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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