Kingsview Wealth Management LLC Takes Position in Macy’s, Inc. $M

Kingsview Wealth Management LLC purchased a new stake in Macy’s, Inc. (NYSE:M) in the fourth quarter, Holdings Channel.com reports. The fund purchased 159,837 shares of the company’s stock, valued at approximately $3,524,000.

A number of other large investors have also made changes to their positions in M. Invesco Ltd. increased its holdings in shares of Macy’s by 160.5% in the 2nd quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock valued at $49,941,000 after purchasing an additional 2,639,132 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Macy’s by 39.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company’s stock valued at $106,701,000 after purchasing an additional 1,697,412 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Macy’s in the 4th quarter valued at about $30,722,000. LSV Asset Management increased its holdings in Macy’s by 26.1% during the 4th quarter. LSV Asset Management now owns 6,004,835 shares of the company’s stock valued at $132,407,000 after acquiring an additional 1,244,631 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in Macy’s during the 3rd quarter valued at about $12,673,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insider Activity

In other Macy’s news, EVP Danielle L. Kirgan sold 10,010 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $179,379.20. Following the sale, the executive vice president directly owned 108,008 shares of the company’s stock, valued at $1,935,503.36. This trade represents a 8.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 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 $896,788.48. Following the sale, the chief executive officer directly owned 485,791 shares in the company, valued at $8,705,374.72. This represents a 9.34% 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 valued at $1,705,276 over the last quarter. 1.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. Telsey Advisory Group restated a “market perform” rating and set a $20.00 target price on shares of Macy’s in a report on Wednesday, April 1st. Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of Macy’s in a report on Wednesday, March 18th. UBS Group raised their target price on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a report 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 has an average rating of “Reduce” and an average price target of $18.90.

Macy’s Stock Performance

NYSE:M opened at $21.78 on Friday. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $24.41. The company has a market capitalization of $5.74 billion, a P/E ratio of 9.39 and a beta of 1.47. The firm has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $20.50. 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 released its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.12. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.48 billion. During the same period last year, the company earned $1.80 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts expect that Macy’s, Inc. will post 2.1 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s dividend payout ratio (DPR) is currently 33.19%.

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.