Northwestern Mutual Wealth Management Co. Sells 925 Shares of Macy’s Inc (M)
Northwestern Mutual Wealth Management Co. reduced its stake in Macy’s Inc (NYSE:M) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,175 shares of the company’s stock after selling 925 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Macy’s were worth $120,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of M. Nationwide Fund Advisors lifted its position in shares of Macy’s by 1.7% in the first quarter. Nationwide Fund Advisors now owns 86,071 shares of the company’s stock valued at $2,551,000 after acquiring an additional 1,466 shares in the last quarter. Boston Partners purchased a new stake in shares of Macy’s in the first quarter valued at $469,000. UBS Asset Management Americas Inc. lifted its position in shares of Macy’s by 30.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,293,899 shares of the company’s stock valued at $38,351,000 after acquiring an additional 304,608 shares in the last quarter. Sei Investments Co. lifted its position in shares of Macy’s by 23.5% in the first quarter. Sei Investments Co. now owns 12,365 shares of the company’s stock valued at $367,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Macy’s by 28.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,558 shares of the company’s stock valued at $669,000 after acquiring an additional 5,036 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
Several analysts have recently issued reports on M shares. Guggenheim restated a “buy” rating and issued a $26.00 price objective on shares of Macy’s in a research report on Friday, June 16th. Vetr downgraded Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective on the stock. in a research report on Thursday, July 27th. BMO Capital Markets set a $36.00 target price on Macy’s and gave the company a “buy” rating in a research note on Friday, August 11th. Wedbush reiterated a “hold” rating on shares of Macy’s in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $28.00 target price on shares of Macy’s in a research note on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.63.
Shares of Macy’s Inc (M) opened at 21.53 on Friday. Macy’s Inc has a 1-year low of $19.32 and a 1-year high of $45.41. The stock has a 50 day moving average price of $21.53 and a 200-day moving average price of $24.80. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 9.79 and a beta of 0.83.
Macy’s (NYSE:M) last posted its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Macy’s had a return on equity of 21.38% and a net margin of 2.71%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Macy’s Inc will post $3.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.51 annualized dividend and a yield of 7.01%. Macy’s’s dividend payout ratio (DPR) is currently 68.64%.
In related news, Director John A. Bryant bought 9,825 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the acquisition, the director now directly owns 9,825 shares in the company, valued at $199,644. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.
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Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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