Redwood Investment Management LLC Acquires New Stake in Macy’s Inc (NYSE:M)

Redwood Investment Management LLC purchased a new stake in shares of Macy’s Inc (NYSE:M) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,715 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors have also recently modified their holdings of M. Schwab Charles Investment Management Inc. lifted its holdings in Macy’s by 22.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,696,773 shares of the company’s stock valued at $67,932,000 after purchasing an additional 497,496 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Macy’s by 19.6% during the fourth quarter. State of Alaska Department of Revenue now owns 97,610 shares of the company’s stock valued at $2,457,000 after purchasing an additional 16,020 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its holdings in Macy’s by 35.6% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 298,270 shares of the company’s stock valued at $7,513,000 after purchasing an additional 78,260 shares in the last quarter. James Investment Research Inc. lifted its holdings in Macy’s by 26.1% during the fourth quarter. James Investment Research Inc. now owns 245,522 shares of the company’s stock valued at $6,185,000 after purchasing an additional 50,772 shares in the last quarter. Finally, QV Investors Inc. bought a new stake in shares of Macy’s during the fourth quarter valued at approximately $45,737,000. 88.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of M opened at $37.56 on Friday. Macy’s Inc has a fifty-two week low of $17.41 and a fifty-two week high of $41.33. The firm has a market capitalization of $12.18 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.74. The company has a current ratio of 1.52, a quick ratio of 0.48 and a debt-to-equity ratio of 1.01.



Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, May 16th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.12. Macy’s had a net margin of 6.45% and a return on equity of 24.56%. The company had revenue of $5.54 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. Macy’s’s quarterly revenue was up 3.6% on a year-over-year basis. analysts anticipate that Macy’s Inc will post 3.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, June 14th. Macy’s’s dividend payout ratio (DPR) is 40.05%.

In other news, Chairman Jeffrey Gennette acquired 10,000 shares of the business’s stock in a transaction on Thursday, April 12th. The shares were acquired at an average price of $29.10 per share, for a total transaction of $291,000.00. Following the completion of the transaction, the chairman now directly owns 89,303 shares of the company’s stock, valued at approximately $2,598,717.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.36% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Susquehanna Bancshares reiterated a “positive” rating on shares of Macy’s in a research report on Thursday, June 7th. Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Thursday, June 7th. Atlantic Securities cut shares of Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research report on Wednesday, June 6th. They noted that the move was a valuation call. Evercore ISI lifted their price objective on shares of Macy’s from $17.41 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 4th. Finally, UBS Group upgraded shares of Macy’s from a “neutral” rating to a “positive” rating in a research report on Tuesday, May 22nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Macy’s currently has an average rating of “Hold” and an average price target of $29.96.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

Institutional Ownership by Quarter for Macy`s (NYSE:M)

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