38,630 Shares in Macy’s, Inc. $M Acquired by Legato Capital Management LLC

Legato Capital Management LLC purchased a new position in shares of Macy’s, Inc. (NYSE:M) during the fourth quarter, Holdings Channel reports. The firm purchased 38,630 shares of the company’s stock, valued at approximately $852,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Macy’s during the 3rd quarter worth approximately $3,307,000. Allianz Asset Management GmbH raised its position in Macy’s by 2.1% in the third quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock worth $57,791,000 after acquiring an additional 65,395 shares in the last quarter. SummerHaven Investment Management LLC acquired a new position in Macy’s during the third quarter worth $1,192,000. Schroder Investment Management Group raised its holdings in Macy’s by 1.1% during the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock worth $174,608,000 after purchasing an additional 110,548 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Macy’s during the fourth quarter worth $2,752,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on M. Citigroup dropped their price target on Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. TD Cowen lowered their price target on Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Telsey Advisory Group restated a “market perform” rating and set a $20.00 price objective on shares of Macy’s in a research note on Wednesday, April 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. Finally, UBS Group upped their price objective on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Macy’s presently has a consensus rating of “Reduce” and a consensus price target of $18.90.

Macy’s Stock Up 0.1%

NYSE:M opened at $20.69 on Tuesday. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $24.41. The firm has a market capitalization of $5.46 billion, a PE ratio of 8.92 and a beta of 1.47. The stock has a 50 day moving average of $18.86 and a 200-day moving average of $20.46. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. During the same period in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts predict that Macy’s, Inc. will post 2.09 EPS for the current year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.1915 per share. This represents a $0.77 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s dividend payout ratio (DPR) is presently 33.19%.

Insider Transactions at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 10,010 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 $179,379.20. Following the completion of the transaction, the executive vice president directly owned 108,008 shares of the company’s stock, valued at approximately $1,935,503.36. This trade represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Olivier Bron sold 7,228 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $129,525.76. Following the sale, the chief executive officer directly owned 21,590 shares of the company’s stock, valued at approximately $386,892.80. This represents a 25.08% 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. In the last 90 days, insiders sold 94,967 shares of company stock valued at $1,705,276. Company insiders own 1.05% of the company’s stock.

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.