Macy's, Inc. $M Shares Acquired by LSV Asset Management

Key Points

• LSV Asset Management increased its Macy’s stake by 26.1% in the fourth quarter, buying 1.24 million additional shares and bringing its holdings to 6.0 million shares worth about $132.4 million.
• Macy’s reported better-than-expected quarterly results, with EPS of $1.67 versus the $1.55 estimate and revenue of $7.92 billion versus $7.48 billion expected, though sales were still down 1.7% year over year.
• The company declared a quarterly dividend of $0.1915 per share payable July 1, while analysts remain cautious overall with a consensus rating of “Reduce” and an average price target of $18.90.

LSV Asset Management lifted its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,004,835 shares of the company's stock after acquiring an additional 1,244,631 shares during the period. LSV Asset Management owned 2.26% of Macy's worth $132,407,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Strengthening Families & Communities LLC acquired a new stake in Macy's in the 4th quarter worth about $28,000. V Square Quantitative Management LLC acquired a new stake in Macy's in the 4th quarter worth about $29,000. Cullen Frost Bankers Inc. acquired a new stake in Macy's in the 3rd quarter worth about $31,000. Bessemer Group Inc. boosted its stake in Macy's by 41.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock worth $37,000 after buying an additional 592 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Macy's by 101.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company's stock worth $41,000 after buying an additional 1,162 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Stock Performance

NYSE M opened at $20.69 on Friday. The firm has a market capitalization of $5.46 billion, a P/E ratio of 8.92 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. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. The business's 50-day simple moving average is $18.79 and its 200-day simple moving average is $20.45.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data 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 business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.48 billion. Macy's had a return on equity of 14.22% and a net margin of 2.84%.The company's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 EPS. Equities analysts predict that Macy's, Inc. will post 2.09 EPS for the current year.

Macy's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.1915 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Macy's's dividend payout ratio (DPR) is currently 32.76%.

Insider Buying and Selling at Macy's

In related news, CEO Olivier Bron sold 7,228 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the completion of the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 company'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 $179,379.20. Following the sale, the executive vice president directly owned 108,008 shares of the company's stock, valued at approximately $1,935,503.36. This trade represents 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. Insiders sold a total of 94,967 shares of company stock valued at $1,705,276 in the last quarter. Company insiders own 1.05% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Cowen decreased their price target on Macy's from $21.00 to $20.00 and set a "hold" rating on the stock in a research note on Thursday, March 19th. UBS Group raised their price target on Macy's from $8.00 to $9.00 and gave the stock a "sell" rating in a research note on Monday, March 9th. JPMorgan Chase & Co. decreased their price target on Macy's from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. Citigroup decreased their price target on Macy's from $24.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $20.00 price target on shares of Macy's in a research note on Wednesday, April 1st. 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 stock. Based on data from MarketBeat.com, Macy's has an average rating of "Reduce" and a consensus price target of $18.90.

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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