Focus Partners Wealth Sells 21,324 Shares of Macy's, Inc. (NYSE:M)

Focus Partners Wealth lowered its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 32.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,708 shares of the company's stock after selling 21,324 shares during the period. Focus Partners Wealth's holdings in Macy's were worth $740,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. HB Wealth Management LLC raised its stake in Macy's by 724.1% during the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after buying an additional 91,015 shares during the last quarter. SG Americas Securities LLC raised its stake in Macy's by 1,076.9% during the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock worth $3,027,000 after buying an additional 163,587 shares during the last quarter. Impact Partnership Wealth LLC raised its stake in Macy's by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company's stock worth $286,000 after buying an additional 1,229 shares during the last quarter. KBC Group NV raised its stake in Macy's by 47.4% during the fourth quarter. KBC Group NV now owns 11,718 shares of the company's stock worth $198,000 after buying an additional 3,766 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Macy's by 2.4% during the fourth quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock worth $700,000 after buying an additional 960 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Cowen restated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Barclays assumed coverage on Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. Finally, New Street Research set a $13.00 target price on Macy's in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.00.

Macy's Price Performance

Shares of NYSE M opened at $12.24 on Monday. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.70. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 20.74 and a beta of 1.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm's 50-day simple moving average is $12.04 and its 200 day simple moving average is $14.27.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. As a group, research analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 5.96%. Macy's's dividend payout ratio (DPR) is presently 35.44%.

Insider Buying and Selling

In other Macy's news, CEO Antony Spring sold 20,868 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares in the company, valued at $4,073,373.92. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the transaction, the executive vice president now directly owns 4,723 shares in the company, valued at $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. 1.09% of the stock is owned by insiders.

Macy's Company Profile

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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