Northern Trust Corp Has $33.07 Million Stock Holdings in Macy's, Inc. $M

Key Points

• Northern Trust Corp reduced its stake in Macy's, Inc. by 2.7%, owning approximately 2.6 million shares, valued at about $33.07 million, as per recent SEC filings.
• Analysts have mixed ratings for Macy's, with one Strong Buy, nine Hold, and two Sell ratings, while the consensus price target is $13.22.
• Macy's announced a quarterly dividend of $0.1824 per share, equating to a yield of 5.5%, payable on October 1st.

Northern Trust Corp trimmed its stake in Macy's, Inc. (NYSE:M - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,633,297 shares of the company's stock after selling 74,052 shares during the quarter. Northern Trust Corp owned about 0.95% of Macy's worth $33,074,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of M. Summit Securities Group LLC grew its holdings in shares of Macy's by 106.0% during the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock valued at $28,000 after buying an additional 38,800 shares during the last quarter. Headlands Technologies LLC bought a new position in Macy's in the 1st quarter valued at about $29,000. Raiffeisen Bank International AG bought a new position in Macy's in the 4th quarter valued at about $111,000. Versant Capital Management Inc lifted its position in Macy's by 343.4% in the 1st quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after acquiring an additional 7,318 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in Macy's in the 1st quarter valued at about $142,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on M. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $14.00 price target on shares of Macy's in a research report on Wednesday. Citigroup reaffirmed a "neutral" rating and issued a $12.00 price target (up previously from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Macy's has a consensus rating of "Hold" and a consensus price target of $13.22.

Macy's Stock Down 0.9%

Macy's stock opened at $13.24 on Friday. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $18.13. The stock has a market cap of $3.59 billion, a PE ratio of 6.72 and a beta of 1.79. The firm's 50-day simple moving average is $12.50 and its 200 day simple moving average is $12.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 1.43.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The firm's revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.1824 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.73 annualized dividend and a yield of 5.5%. Macy's's payout ratio is currently 37.06%.

About Macy's

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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