Atlas Capital Advisors LLC Cuts Stock Position in Macy’s, Inc. (NYSE:M)

Atlas Capital Advisors LLC trimmed its position in shares of Macy’s, Inc. (NYSE:M) by 78.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,876 shares of the company’s stock after selling 13,819 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Macy’s were worth $74,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of M. Riverview Trust Co acquired a new stake in shares of Macy’s during the first quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new stake in Macy’s during the 1st quarter worth approximately $42,000. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the 1st quarter worth approximately $50,000. EntryPoint Capital LLC purchased a new position in Macy’s in the 1st quarter valued at approximately $51,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Macy’s by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 2,600 shares of the company’s stock valued at $52,000 after buying an additional 2,000 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Macy’s

In related news, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,464 shares of company stock worth $824,081. Company insiders own 2.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on M shares. JPMorgan Chase & Co. increased their price objective on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. StockNews.com assumed coverage on Macy’s in a research report on Friday. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Finally, Evercore ISI dropped their price objective on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.50.

Macy’s Price Performance

M stock opened at $15.57 on Friday. The stock has a market cap of $4.30 billion, a P/E ratio of 519.00 and a beta of 2.18. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The company’s 50 day moving average is $17.05 and its two-hundred day moving average is $18.59.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Research analysts expect that Macy’s, Inc. will post 2.79 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.1737 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.46%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.