Macy’s, Inc. (NYSE:M) Stock Position Boosted by First Washington CORP

First Washington CORP lifted its stake in shares of Macy’s, Inc. (NYSE:M) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,797 shares of the company’s stock after acquiring an additional 2,284 shares during the quarter. First Washington CORP’s holdings in Macy’s were worth $2,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Macy’s in the 4th quarter worth $62,529,000. Crestline Management LP bought a new stake in Macy’s in the fourth quarter worth about $32,192,000. Dimensional Fund Advisors LP lifted its holdings in Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock valued at $297,385,000 after acquiring an additional 1,379,476 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of Macy’s during the 4th quarter valued at about $19,372,000. Finally, Hsbc Holdings PLC grew its stake in shares of Macy’s by 1,044.1% in the 4th quarter. Hsbc Holdings PLC now owns 906,708 shares of the company’s stock worth $18,331,000 after purchasing an additional 827,456 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 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 $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders sold 44,665 shares of company stock valued at $842,372 in the last three months. Corporate insiders own 2.77% of the company’s stock.

Macy’s Stock Performance

M stock opened at $15.03 on Wednesday. The firm has a 50 day simple moving average of $16.21 and a 200 day simple moving average of $18.25. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The stock has a market cap of $4.15 billion, a P/E ratio of 501.00 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Research analysts anticipate that Macy’s, Inc. will post 2.72 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, September 13th. Macy’s’s payout ratio is currently 2,300.00%.

Wall Street Analysts Forecast Growth

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

Macy’s 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.