Lindbrook Capital LLC Increases Position in Macy’s, Inc. (NYSE:M)

Lindbrook Capital LLC grew its holdings in Macy’s, Inc. (NYSE:M) by 253.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,317 shares of the company’s stock after buying an additional 944 shares during the period. Lindbrook Capital LLC’s holdings in Macy’s were worth $26,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Macy’s in the fourth quarter valued at about $50,000. Fifth Third Bancorp raised its holdings in shares of Macy’s by 221.4% in the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after buying an additional 2,415 shares during the last quarter. Covestor Ltd raised its holdings in shares of Macy’s by 25.5% in the third quarter. Covestor Ltd now owns 4,763 shares of the company’s stock valued at $55,000 after buying an additional 969 shares during the last quarter. CWM LLC raised its holdings in shares of Macy’s by 241.3% in the third quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $77,000 after buying an additional 4,711 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Macy’s by 1,906.1% during the third quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company’s stock worth $84,000 after acquiring an additional 6,862 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Trading Up 0.5 %

Shares of M opened at $18.44 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average is $19.63 and its two-hundred day moving average is $17.48. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The firm has a market capitalization of $5.07 billion, a P/E ratio of 49.84 and a beta of 2.15.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.77%. Macy’s’s dividend payout ratio is currently 186.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. StockNews.com assumed coverage on shares of Macy’s in a research note on Wednesday. They set a “hold” rating on the stock. Citigroup upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Thursday, March 28th. Finally, Morgan Stanley dropped their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.45.

Insider Activity

In other news, SVP Paul Griscom sold 2,969 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Danielle L. Kirgan sold 15,070 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $307,729.40. Following the transaction, the executive vice president now owns 306,555 shares of the company’s stock, valued at $6,259,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock worth $4,405,507 over the last ninety days. 1.52% of the stock is currently owned by insiders.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.