Lisanti Capital Growth LLC Purchases New Holdings in Macy’s, Inc. $M

Lisanti Capital Growth LLC purchased a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, Holdings Channel.com reports. The fund purchased 141,090 shares of the company’s stock, valued at approximately $3,111,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in shares of Macy’s in the 4th quarter worth $323,000. EverSource Wealth Advisors LLC lifted its stake in shares of Macy’s by 60.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,099 shares of the company’s stock worth $68,000 after acquiring an additional 1,170 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Macy’s in the 4th quarter worth $852,000. LSV Asset Management lifted its stake in shares of Macy’s by 26.1% in the 4th quarter. LSV Asset Management now owns 6,004,835 shares of the company’s stock worth $132,407,000 after acquiring an additional 1,244,631 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Macy’s by 263.3% in the 4th 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 period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $20.00 target price on shares of Macy’s in a research report on Wednesday, April 1st. Citigroup decreased their price target on Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. JPMorgan Chase & Co. dropped their price objective on Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. Finally, TD Cowen dropped their price objective on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Macy’s presently has a consensus rating of “Reduce” and an average target price of $18.90.

Macy’s Price Performance

Shares of NYSE:M opened at $20.69 on Friday. The business’s 50 day simple moving average is $18.79 and its 200-day simple moving average is $20.45. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 8.92 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $24.41.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.55 by $0.12. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.80 EPS. As a group, equities analysts forecast that Macy’s, Inc. will post 2.09 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. Stockholders of record on Monday, June 15th will be paid a dividend of $0.1915 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.7%. Macy’s’s payout ratio is 33.19%.

Insider Transactions at Macy’s

In other Macy’s news, EVP Tracy M. Preston sold 5,271 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 $94,456.32. Following the sale, the executive vice president owned 28,773 shares in the company, valued at approximately $515,612.16. This represents a 15.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $179,379.20. Following the sale, the executive vice president owned 108,008 shares in the company, valued at approximately $1,935,503.36. This trade represents a 8.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 94,967 shares of company stock worth $1,705,276 over the last quarter. 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.