ICM Asset Management Inc. WA Buys 6,210 Shares of Macy’s Inc (M)

ICM Asset Management Inc. WA increased its position in shares of Macy’s Inc (NYSE:M) by 13.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,630 shares of the company’s stock after buying an additional 6,210 shares during the period. Macy’s makes up 1.9% of ICM Asset Management Inc. WA’s portfolio, making the stock its 18th largest position. ICM Asset Management Inc. WA’s holdings in Macy’s were worth $1,530,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in M. Penserra Capital Management LLC increased its stake in shares of Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the period. Ropes Wealth Advisors LLC increased its stake in shares of Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares during the period. WFG Advisors LP increased its stake in shares of Macy’s by 9,613.2% in the fourth quarter. WFG Advisors LP now owns 3,691 shares of the company’s stock worth $144,000 after buying an additional 3,653 shares during the period. Winslow Evans & Crocker Inc. increased its stake in shares of Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the period. Finally, First Manhattan Co. increased its stake in shares of Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the period. Institutional investors own 84.94% of the company’s stock.

Macy’s Inc (NYSE:M) traded up 0.72% during trading on Monday, hitting $22.43. 2,302,644 shares of the stock were exchanged. The stock has a 50 day moving average price of $24.24 and a 200-day moving average price of $30.08. The firm has a market capitalization of $6.83 billion, a PE ratio of 12.10 and a beta of 0.77. Macy’s Inc has a 12-month low of $21.51 and a 12-month high of $45.41.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, May 11th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by $0.12. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Macy’s Inc will post $3.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be paid a $0.3775 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $1.51 annualized dividend and a yield of 6.78%. Macy’s’s payout ratio is currently 81.62%.

COPYRIGHT VIOLATION NOTICE: “ICM Asset Management Inc. WA Buys 6,210 Shares of Macy’s Inc (M)” was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://transcriptdaily.com/2017/06/26/icm-asset-management-inc-wa-buys-6210-shares-of-macys-inc-m.html.

Several analysts have issued reports on M shares. Royal Bank Of Canada set a $28.00 target price on shares of Macy’s and gave the company a “hold” rating in a research note on Saturday, May 13th. Citigroup Inc. cut their target price on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. Vetr downgraded shares of Macy’s from a “strong-buy” rating to a “buy” rating and set a $32.30 target price on the stock. in a research note on Thursday, April 6th. Wunderlich reissued a “buy” rating and set a $24.00 target price on shares of Macy’s in a research note on Monday, May 15th. Finally, Cowen and Company set a $29.00 target price on shares of Macy’s and gave the company a “hold” rating in a research note on Saturday, May 13th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Macy’s currently has an average rating of “Hold” and a consensus target price of $31.89.

In other Macy’s news, EVP Felicia Williams sold 1,697 shares of Macy’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total value of $48,449.35. Following the sale, the executive vice president now directly owns 1,697 shares in the company, valued at approximately $48,449.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly Langenstein sold 1,251 shares of Macy’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total transaction of $35,716.05. Following the completion of the sale, the insider now owns 6,414 shares in the company, valued at $183,119.70. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

About Macy’s

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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

Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply