UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $18.89 Million Position in Macy’s, Inc. $M

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Macy’s, Inc. (NYSE:M) by 15.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 802,155 shares of the company’s stock after selling 144,539 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Macy’s were worth $18,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of M. Strengthening Families & Communities LLC bought a new stake in shares of Macy’s during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC grew its stake in Macy’s by 51.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after buying an additional 526 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Macy’s by 35.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock valued at $41,000 after acquiring an additional 486 shares during the period. Farther Finance Advisors LLC raised its holdings in Macy’s by 96.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,463 shares of the company’s stock valued at $54,000 after acquiring an additional 1,210 shares during the period. Finally, IFP Advisors Inc lifted its position in Macy’s by 263.3% during the fourth quarter. IFP Advisors Inc now owns 2,427 shares of the company’s stock worth $54,000 after acquiring an additional 1,759 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Performance

NYSE M opened at $23.06 on Friday. The firm has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $21.44. Macy’s, Inc. has a 12-month low of $16.41 and a 12-month high of $26.58. The company has a market capitalization of $6.07 billion, a P/E ratio of 9.53 and a beta of 1.41. The company has a quick ratio of 0.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, June 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.61 billion. Macy’s had a net margin of 2.94% and a return on equity of 13.68%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Analysts anticipate that Macy’s, Inc. will post 2.22 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 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 3.3%. The ex-dividend date is Tuesday, September 15th. Macy’s’s dividend payout ratio (DPR) is 31.82%.

Insider Buying and Selling at Macy’s

In other news, EVP Thomas Edwards, Jr. sold 16,419 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $24.89, for a total transaction of $408,668.91. Following the sale, the executive vice president directly owned 20,000 shares of the company’s stock, valued at approximately $497,800. This represents a 45.08% decrease in their position. The transaction 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, SVP Paul Griscom sold 10,077 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $25.63, for a total value of $258,273.51. Following the completion of the transaction, the senior vice president owned 25,373 shares in the company, valued at $650,309.99. The trade was a 28.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.05% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on M shares. TD Cowen boosted their price objective on Macy’s from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Telsey Advisory Group increased their target price on Macy’s from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Thursday, June 4th. UBS Group lifted their price target on Macy’s from $9.00 to $10.00 and gave the stock a “sell” rating in a report on Wednesday, August 26th. Evercore set a $22.00 price target on Macy’s in a research note on Thursday, June 4th. Finally, Weiss Ratings raised Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.78.

About Macy’s

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.