Cwm LLC Boosts Stock Position in Macy's, Inc. $M

Key Points

• Cwm LLC increased its stake in Macy's by 257.3% in Q4, adding 50,516 shares to hold 70,150 shares worth about $1.55 million.
• Other institutions also boosted positions—most notably Invesco (+160.5% to 4.283 million shares)—leaving 87.36% of Macy's stock owned by hedge funds and institutional investors.
• Despite a recent earnings beat and a quarterly dividend increase to $0.1915 (annualized yield ~3.8%), the sell‑side consensus remains "Reduce" with a consensus target price of $18.90 (1 Buy, 11 Hold, 2 Sell).

Cwm LLC lifted its position in Macy's, Inc. (NYSE:M - Free Report) by 257.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,150 shares of the company's stock after purchasing an additional 50,516 shares during the quarter. Cwm LLC's holdings in Macy's were worth $1,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Macy's by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company's stock worth $2,047,000 after purchasing an additional 45,149 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Macy's by 5.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company's stock worth $14,019,000 after purchasing an additional 55,821 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Macy's by 33.1% in the 1st quarter. Focus Partners Wealth now owns 58,197 shares of the company's stock worth $731,000 after purchasing an additional 14,489 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Macy's by 49.6% in the 2nd quarter. Cetera Investment Advisers now owns 24,300 shares of the company's stock worth $283,000 after purchasing an additional 8,053 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Macy's by 160.5% in 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 in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on M. TD Cowen cut their price objective on Macy's from $21.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, March 19th. Telsey Advisory Group restated a "market perform" rating and set a $20.00 target price on shares of Macy's in a report on Wednesday, April 1st. Zacks Research upgraded Macy's from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Jefferies Financial Group restated a "buy" rating and set a $22.00 target price on shares of Macy's in a report on Wednesday, March 18th. Finally, UBS Group increased their target price on Macy's from $8.00 to $9.00 and gave the company a "sell" rating in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Macy's currently has a consensus rating of "Reduce" and a consensus target price of $18.90.

Macy's Trading Down 0.4%

Shares of M stock opened at $20.10 on Friday. The stock has a market capitalization of $5.30 billion, a PE ratio of 8.66 and a beta of 1.51. Macy's, Inc. has a 1-year low of $10.54 and a 1-year high of $24.41. The business has a 50-day moving average of $19.05 and a 200 day moving average of $20.33. 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 issued its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.12. The company had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.48 billion. Macy's had a return on equity of 14.22% and a net margin of 2.84%.Macy's's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 EPS. As a group, sell-side analysts anticipate 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. 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 3.8%. 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 32.76%.

Insiders Place Their Bets

In other Macy's news, EVP Tracy M. Preston sold 5,271 shares of the company's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $94,456.32. Following the completion of the transaction, the executive vice president owned 28,773 shares of the company's stock, valued at $515,612.16. This represents a 15.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 company's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 94,967 shares of company stock worth $1,705,276. 1.05% of the stock is currently owned by company insiders.

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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