PVG Asset Management Corp lowered its position in Macy’s Inc (NYSE:M) by 26.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,755 shares of the company’s stock after selling 9,447 shares during the period. PVG Asset Management Corp’s holdings in Macy’s were worth $964,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new stake in Macy’s during the second quarter worth about $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Macy’s during the second quarter worth about $116,000. Point72 Asia Hong Kong Ltd increased its holdings in Macy’s by 10,087.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 3,973 shares of the company’s stock worth $118,000 after buying an additional 3,934 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Macy’s during the second quarter worth about $150,000. Finally, Highstreet Asset Management Inc. increased its holdings in Macy’s by 1,475.0% during the second quarter. Highstreet Asset Management Inc. now owns 4,410 shares of the company’s stock worth $165,000 after buying an additional 4,130 shares during the last quarter. Institutional investors own 90.32% of the company’s stock.

Shares of NYSE:M opened at $36.27 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.09 and a beta of 0.69. Macy’s Inc has a twelve month low of $17.41 and a twelve month high of $41.99.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the business earned $0.48 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. analysts predict that Macy’s Inc will post 3.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be given a $0.3775 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.16%. Macy’s’s dividend payout ratio (DPR) is currently 40.05%.

In other news, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the transaction, the president now directly owns 54,722 shares in the company, valued at $1,972,728.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lenehan acquired 2,092 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was purchased at an average price of $35.78 per share, with a total value of $74,851.76. Following the completion of the transaction, the director now directly owns 8,060 shares of the company’s stock, valued at approximately $288,386.80. The disclosure for this purchase can be found here. 2.36% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Macy’s in a report on Monday, September 3rd. They set a “sell” rating and a $33.00 price objective for the company. Zacks Investment Research downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Cowen raised their price objective on shares of Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, August 16th. Deutsche Bank raised their price objective on shares of Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Finally, Royal Bank of Canada set a $39.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research report on Thursday, August 16th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.57.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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