SG Americas Securities LLC Acquires 32,206 Shares of Macy’s, Inc. $M

SG Americas Securities LLC lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,813 shares of the company’s stock after purchasing an additional 32,206 shares during the quarter. SG Americas Securities LLC owned 0.08% of Macy’s worth $4,670,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Macy’s by 1.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 26,806 shares of the company’s stock valued at $481,000 after purchasing an additional 500 shares during the period. Cambria Investment Management L.P. raised its holdings in Macy’s by 4.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 12,066 shares of the company’s stock worth $216,000 after buying an additional 524 shares during the period. Bessemer Group Inc. lifted its stake in Macy’s by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after buying an additional 592 shares in the last quarter. Private Advisor Group LLC lifted its stake in Macy’s by 4.2% in the third quarter. Private Advisor Group LLC now owns 18,444 shares of the company’s stock valued at $331,000 after buying an additional 750 shares in the last quarter. Finally, Certuity LLC boosted its holdings in shares of Macy’s by 0.9% in the third quarter. Certuity LLC now owns 103,890 shares of the company’s stock valued at $1,863,000 after buying an additional 880 shares during the period. Institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the topic of a number of research analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $20.00 price objective on shares of Macy’s in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Macy’s in a research note on Wednesday, March 18th. Guggenheim began coverage on Macy’s in a report on Tuesday, December 9th. They set a “neutral” rating for the company. Citigroup dropped 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. Finally, Morgan Stanley boosted their price target on Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $18.90.

Macy’s Price Performance

NYSE M opened at $18.10 on Thursday. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. Macy’s, Inc. has a 12-month low of $9.76 and a 12-month high of $24.41. The company has a market capitalization of $4.77 billion, a PE ratio of 7.80 and a beta of 1.50. The firm’s 50 day moving average is $19.70 and its 200-day moving average is $20.16.

Macy’s (NYSE:M) last announced its 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. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. Equities research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a dividend of $0.1915 per share. The ex-dividend date was Friday, March 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio (DPR) is currently 33.19%.

Macy’s 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.