Horizon Investments LLC Invests $3.38 Million in Macy's, Inc. $M

Key Points

• Horizon Investments LLC opened a new Q4 position in Macy's by buying 153,107 shares worth about $3.38 million, roughly 0.06% of the company.
• Macy's beat quarterly EPS estimates ($1.67 vs. $1.55) on $7.92 billion in revenue and raised its quarterly dividend to $0.1915 (annualized $0.77) for a 4.0% yield.
• While institutional ownership sits at 87.36%, analyst sentiment is cautious (consensus "Reduce" with an average price target of $18.90) and insiders have recently sold shares to cover tax obligations.

Horizon Investments LLC bought a new position in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 153,107 shares of the company's stock, valued at approximately $3,376,000. Horizon Investments LLC owned approximately 0.06% of Macy's as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Macy's in the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. purchased a new position in shares of Macy's in the third quarter worth about $31,000. Bessemer Group Inc. increased its stake in shares of Macy's by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock worth $37,000 after purchasing an additional 592 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Macy's by 101.1% in the third quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company's stock worth $41,000 after purchasing an additional 1,162 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Macy's by 7,265.6% in the fourth quarter. CoreCap Advisors LLC now owns 2,357 shares of the company's stock worth $52,000 after purchasing an additional 2,325 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

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Macy's Price Performance

M stock opened at $19.13 on Tuesday. The firm has a 50 day moving average of $18.85 and a 200-day moving average of $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. Macy's, Inc. has a 12 month low of $10.54 and a 12 month high of $24.41. The firm has a market capitalization of $5.04 billion, a P/E ratio of 8.24 and a beta of 1.47.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.12. Macy's had a net margin of 2.84% and a return on equity of 14.22%. The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. During the same period last year, the business earned $1.80 earnings per share. Macy's's revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Macy's, Inc. will post 2.09 earnings per share for the current fiscal year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.0%. 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 (DPR) is 32.76%.

Insider Activity

In other Macy's news, EVP Danielle L. Kirgan sold 10,010 shares of the business'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 $179,379.20. Following the completion of the transaction, the executive vice president owned 108,008 shares of the company's stock, valued at $1,935,503.36. The trade was a 8.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 business'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 $129,525.76. Following the completion of the transaction, the chief executive officer directly owned 21,590 shares of the company's stock, valued at approximately $386,892.80. This represents a 25.08% 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 a total of 94,967 shares of company stock valued at $1,705,276 over the last ninety days. 1.05% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on M. Wall Street Zen downgraded shares of Macy's from a "buy" rating to a "hold" rating in a research note on Sunday, April 26th. UBS Group lifted their target price on shares of Macy's from $8.00 to $9.00 and gave the stock a "sell" rating in a research note on Monday, March 9th. Telsey Advisory Group restated a "market perform" rating and issued a $20.00 price objective on shares of Macy's in a research report on Wednesday, April 1st. Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a research report on Friday, March 27th. Finally, Zacks Research upgraded shares of Macy's from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Macy's presently has a consensus rating of "Reduce" and an average price target of $18.90.

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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