Commonwealth Equity Services LLC Boosts Stake in Macy’s Inc (M)

Commonwealth Equity Services LLC grew its holdings in Macy’s Inc (NYSE:M) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,904 shares of the company’s stock after acquiring an additional 2,244 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Macy’s were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of M. M&T Bank Corp boosted its position in shares of Macy’s by 16.9% in the fourth quarter. M&T Bank Corp now owns 22,087 shares of the company’s stock valued at $556,000 after acquiring an additional 3,187 shares during the period. KBC Group NV boosted its position in shares of Macy’s by 31.1% in the fourth quarter. KBC Group NV now owns 89,058 shares of the company’s stock valued at $2,244,000 after acquiring an additional 21,131 shares during the period. Toronto Dominion Bank boosted its position in shares of Macy’s by 13.6% in the fourth quarter. Toronto Dominion Bank now owns 131,206 shares of the company’s stock valued at $3,305,000 after acquiring an additional 15,683 shares during the period. Advisory Services Network LLC boosted its position in shares of Macy’s by 18.1% in the fourth quarter. Advisory Services Network LLC now owns 14,696 shares of the company’s stock valued at $370,000 after acquiring an additional 2,253 shares during the period. Finally, First Allied Advisory Services Inc. lifted its position in Macy’s by 28.6% in the fourth quarter. First Allied Advisory Services Inc. now owns 20,190 shares of the company’s stock worth $509,000 after purchasing an additional 4,493 shares during the period. 88.42% of the stock is owned by institutional investors.

Several brokerages recently commented on M. Susquehanna Bancshares reaffirmed a “positive” rating on shares of Macy’s in a research report on Thursday, June 7th. Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Thursday, June 7th. Atlantic Securities cut Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 target price for the company. in a research report on Wednesday, June 6th. They noted that the move was a valuation call. UBS Group began coverage on Macy’s in a research report on Thursday. They issued a “neutral” rating and a $39.00 target price for the company. Finally, Evercore ISI raised their target price on Macy’s from $17.41 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.96.



In related news, Chairman Jeffrey Gennette purchased 10,000 shares of the stock in a transaction on Thursday, April 12th. The shares were purchased at an average price of $29.10 per share, with a total value of $291,000.00. Following the transaction, the chairman now directly owns 89,303 shares of the company’s stock, valued at $2,598,717.30. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.36% of the stock is owned by insiders.

Shares of Macy’s opened at $39.32 on Friday, Marketbeat Ratings reports. Macy’s Inc has a 52-week low of $17.41 and a 52-week high of $41.33. The company has a market capitalization of $11.91 billion, a P/E ratio of 10.43, a PEG ratio of 1.21 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 earnings results on Wednesday, May 16th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.12. The business had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.39 billion. Macy’s had a return on equity of 24.56% and a net margin of 6.45%. Macy’s’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. research analysts forecast that Macy’s Inc will post 3.79 earnings per share for the current year.

The business also recently declared 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 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, June 14th. Macy’s’s dividend payout ratio (DPR) is 40.05%.

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.

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

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