Macy’s, Inc. $M Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. trimmed its holdings in shares of Macy’s, Inc. (NYSE:M) by 64.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,112 shares of the company’s stock after selling 59,976 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Macy’s were worth $730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of M. V Square Quantitative Management LLC purchased a new stake in shares of Macy’s in the 4th quarter valued at approximately $29,000. Cullen Frost Bankers Inc. acquired a new stake in Macy’s in the 3rd quarter valued at approximately $31,000. Bessemer Group Inc. lifted its stake in Macy’s by 41.4% during the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after purchasing an additional 592 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Macy’s by 101.1% during the third quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock worth $41,000 after purchasing an additional 1,162 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Macy’s by 7,265.6% during the fourth quarter. CoreCap Advisors LLC now owns 2,357 shares of the company’s stock worth $52,000 after buying an additional 2,325 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on M shares. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Macy’s in a research note on Wednesday, March 18th. Citigroup cut their price target on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research report on Friday, March 27th. UBS Group raised their price objective on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. Finally, Zacks Research upgraded shares of Macy’s from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Macy’s currently has an average rating of “Reduce” and a consensus target price of $18.90.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 50,044 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the sale, the chief executive officer owned 485,791 shares in the company, valued at approximately $8,705,374.72. This represents a 9.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $94,456.32. Following the sale, the executive vice president directly owned 28,773 shares in the company, valued at $515,612.16. This represents a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 94,967 shares of company stock worth $1,705,276 over the last ninety days. 1.05% of the stock is currently owned by company insiders.

Macy’s Stock Down 0.0%

M opened at $19.53 on Monday. Macy’s, Inc. has a one year low of $10.54 and a one year high of $24.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The stock has a market capitalization of $5.15 billion, a P/E ratio of 8.42 and a beta of 1.51. The business’s 50-day simple moving average is $19.19 and its 200-day simple moving average is $20.27.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. Macy’s’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. Analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a $0.1915 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.77 annualized dividend and a dividend yield of 3.9%. This is a boost from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s payout ratio is presently 32.76%.

Macy’s Company Profile

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.