Estate Counselors LLC Makes New $3.72 Million Investment in Macy's, Inc. $M

Key Points

• Estate Counselors LLC established a new position in Macy's by buying 168,713 shares worth about $3.72 million during the 4th quarter, representing roughly 0.06% ownership.
• Analyst sentiment is weak: the consensus rating is "Reduce" with a consensus price target of $18.90 after several firms trimmed targets and issued mostly "hold" ratings.
• Macy's recently beat quarterly estimates (EPS $1.67 vs. $1.55 consensus; revenue $7.92B vs. $7.48B) and raised its quarterly dividend to $0.1915 (annualized $0.77), implying a ~3.9% yield.

Estate Counselors LLC purchased a new position in Macy's, Inc. (NYSE:M - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 168,713 shares of the company's stock, valued at approximately $3,720,000. Estate Counselors LLC owned approximately 0.06% of Macy's at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Macy's by 38.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company's stock worth $2,047,000 after acquiring an additional 45,149 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Macy's by 5.3% in the first 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 acquiring an additional 55,821 shares in the last quarter. Focus Partners Wealth raised its position in Macy's by 33.1% in the first quarter. Focus Partners Wealth now owns 58,197 shares of the company's stock worth $731,000 after acquiring an additional 14,489 shares in the last quarter. Cetera Investment Advisers raised its position in Macy's by 49.6% in the second quarter. Cetera Investment Advisers now owns 24,300 shares of the company's stock worth $283,000 after acquiring an additional 8,053 shares in the last quarter. Finally, Invesco Ltd. raised its position in Macy's by 160.5% in the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock worth $49,941,000 after acquiring an additional 2,639,132 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have commented on M shares. TD Cowen dropped their price target on shares of Macy's from $21.00 to $20.00 and set a "hold" rating on the stock in a research report on Thursday, March 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $22.00 price target on shares of Macy's in a research report on Wednesday, March 18th. Wall Street Zen cut shares of Macy's from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Citigroup dropped their price target on shares of Macy's from $24.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, March 19th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Macy's in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $18.90.

Insiders Place Their Bets

In other news, CEO Antony Spring sold 50,044 shares of the company's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $896,788.48. Following the transaction, the chief executive officer owned 485,791 shares in the company, valued at $8,705,374.72. This represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $94,456.32. Following the completion of the transaction, the executive vice president owned 28,773 shares in the company, valued at $515,612.16. This represents 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 have sold 94,967 shares of company stock worth $1,705,276 over the last quarter. Company insiders own 1.05% of the company's stock.

Macy's Price Performance

NYSE M opened at $19.68 on Monday. The stock's 50-day moving average price is $18.85 and its two-hundred day moving average price is $20.41. 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 company has a market cap of $5.19 billion, a PE ratio of 8.48 and a beta of 1.47. Macy's, Inc. has a 1 year low of $10.54 and a 1 year high of $24.41.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.12. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. Macy's had a return on equity of 14.22% and a net margin of 2.84%.The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.80 EPS. On average, analysts predict that Macy's, Inc. will post 2.09 EPS for the current 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 issued a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, March 13th. This is a boost from Macy's's previous quarterly dividend of $0.18. Macy's's dividend payout ratio is presently 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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