Crossmark Global Holdings Inc. Has $7.05 Million Stock Holdings in Macy's, Inc. $M

Key Points

• Crossmark Global Holdings boosted its Macy’s stake by 334% in the fourth quarter, ending with 319,904 shares valued at about $7.05 million.
• Wall Street sentiment on Macy’s remains cautious: the stock carries a “Reduce” consensus rating and a consensus price target of $18.90, with most analysts rating it Hold.
• Macy’s reported earnings that beat expectations, and it also raised its quarterly dividend to $0.1915 per share, implying a 3.9% annualized yield.

Crossmark Global Holdings Inc. raised its position in Macy's, Inc. (NYSE:M - Free Report) by 334.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,904 shares of the company's stock after buying an additional 246,193 shares during the quarter. Crossmark Global Holdings Inc. owned 0.12% of Macy's worth $7,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Macy's by 160.5% during the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock valued at $49,941,000 after acquiring an additional 2,639,132 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Macy's by 39.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company's stock valued at $106,701,000 after purchasing an additional 1,697,412 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Macy's in the fourth quarter valued at about $30,722,000. Ceredex Value Advisors LLC bought a new position in Macy's in the third quarter valued at about $12,673,000. Finally, Citigroup Inc. raised its position in Macy's by 812.2% in the third quarter. Citigroup Inc. now owns 768,008 shares of the company's stock valued at $13,770,000 after purchasing an additional 683,816 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on M. Jefferies Financial Group reiterated a "buy" rating and issued a $22.00 target price on shares of Macy's in a research report on Wednesday, March 18th. Citigroup dropped their target price on Macy's from $24.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 19th. Wall Street Zen downgraded Macy's from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Zacks Research upgraded Macy's from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Finally, UBS Group increased their price target on Macy's from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $18.90.

Insiders Place Their Bets

In related news, CEO Antony Spring sold 50,044 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 $896,788.48. Following the sale, the chief executive officer directly owned 485,791 shares in the company, valued at approximately $8,705,374.72. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Danielle L. Kirgan sold 10,010 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $179,379.20. Following the completion of the sale, the executive vice president owned 108,008 shares in the company, valued at approximately $1,935,503.36. The trade was a 8.48% 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. Over the last three months, insiders have sold 94,967 shares of company stock valued at $1,705,276. 1.05% of the stock is owned by insiders.

Macy's Trading Up 1.3%

NYSE M opened at $19.48 on Friday. The business has a 50 day simple moving average of $18.72 and a 200 day simple moving average of $20.45. 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 $5.14 billion, a P/E ratio of 8.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50.

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 return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.48 billion. During the same quarter last year, the firm posted $1.80 earnings per share. The firm's revenue was down 1.7% on a year-over-year basis. Research analysts expect that Macy's, Inc. will post 2.09 earnings per share for the current year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued 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 an increase from Macy's's previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. Macy's's dividend payout ratio is 33.19%.

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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