Comerica Bank Purchases 100,925 Shares of Macy's, Inc. $M

Key Points

• Comerica Bank boosted its Macy's stake by 136.9% in Q4, purchasing 100,925 shares to hold 174,664 shares valued at about $3.85 million (≈0.07% of the company).
• Company insiders sold a total of 94,967 shares last quarter—including CEO Antony Spring's 50,044-share sale and EVP Tracy Preston's 5,271-share sale—transactions disclosed as tax-withholding sales following equity vesting, leaving insiders with 1.05% ownership.
• Analysts have a consensus Reduce rating with a $18.90 price target, although Macy's recently beat quarterly EPS estimates ($1.67 vs. $1.55) and raised its quarterly dividend to $0.1915 (3.9% yield).

Comerica Bank grew its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 136.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,664 shares of the company's stock after purchasing an additional 100,925 shares during the quarter. Comerica Bank owned approximately 0.07% of Macy's worth $3,851,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of M. Y Intercept Hong Kong Ltd purchased a new stake in Macy's during the 3rd quarter valued at $3,307,000. Allianz Asset Management GmbH raised its holdings in Macy's by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company's stock valued at $57,791,000 after buying an additional 65,395 shares during the period. SummerHaven Investment Management LLC purchased a new stake in Macy's during the 3rd quarter valued at $1,192,000. Schroder Investment Management Group raised its holdings in Macy's by 1.1% during the 3rd quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company's stock valued at $174,608,000 after buying an additional 110,548 shares during the period. Finally, Dupree Financial Group LLC raised its holdings in Macy's by 54.5% during the 3rd quarter. Dupree Financial Group LLC now owns 810,473 shares of the company's stock valued at $14,532,000 after buying an additional 286,027 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Insider Transactions at Macy's

In other news, CEO Antony Spring sold 50,044 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the transaction, the chief executive officer owned 485,791 shares of the company's stock, valued at approximately $8,705,374.72. This represents a 9.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $94,456.32. Following the transaction, the executive vice president directly owned 28,773 shares in the company, valued at $515,612.16. The trade was a 15.48% 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 sold a total of 94,967 shares of company stock worth $1,705,276 over the last quarter. 1.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

M has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on Macy's from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, March 18th. Citigroup decreased their price target on Macy's from $24.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, March 19th. Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a report on Friday, March 27th. Telsey Advisory Group reissued a "market perform" rating and issued a $20.00 price objective on shares of Macy's in a research report on Wednesday, April 1st. Finally, Zacks Research raised shares of Macy's from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $18.90.

Macy's Price Performance

M opened at $19.68 on Friday. Macy's, Inc. has a 12-month low of $10.54 and a 12-month high of $24.41. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The business's fifty day simple moving average is $18.85 and its 200-day simple moving average is $20.40. The company has a market capitalization 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 quarterly earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.12. Macy's had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter in the prior year, the company earned $1.80 EPS. The business's revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Macy's, Inc. will post 2.09 earnings per share for the current fiscal year.

Macy's Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders 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 dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Macy's's previous quarterly dividend of $0.18. Macy's's dividend payout ratio is currently 33.19%.

Macy's 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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