Chartwell Investment Partners LLC lessened its holdings in Macy’s Inc (NYSE:M) by 63.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,900 shares of the company’s stock after selling 99,009 shares during the period. Chartwell Investment Partners LLC’s holdings in Macy’s were worth $1,976,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tobam grew its holdings in Macy’s by 6.2% during the 3rd quarter. Tobam now owns 226,131 shares of the company’s stock valued at $7,854,000 after buying an additional 13,281 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in Macy’s by 3.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 227,223 shares of the company’s stock valued at $7,886,000 after buying an additional 6,800 shares in the last quarter. Redpoint Investment Management Pty Ltd grew its holdings in Macy’s by 26.0% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 7,362 shares of the company’s stock valued at $256,000 after buying an additional 1,519 shares in the last quarter. MML Investors Services LLC grew its holdings in Macy’s by 157.0% during the 3rd quarter. MML Investors Services LLC now owns 125,941 shares of the company’s stock valued at $4,374,000 after buying an additional 76,936 shares in the last quarter. Finally, Arlington Capital Management Inc. purchased a new stake in Macy’s during the 3rd quarter valued at approximately $676,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.

A number of equities research analysts have issued reports on M shares. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, October 3rd. Canaccord Genuity raised shares of Macy’s from an “average” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Friday, November 16th. Deutsche Bank increased their price objective on shares of Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price objective on shares of Macy’s and gave the company a “hold” rating in a report on Thursday, August 16th. Finally, Standpoint Research lowered shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.91.

In related news, insider C Elisa D. Garcia sold 4,628 shares of the firm’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $35.85, for a total value of $165,913.80. Following the completion of the sale, the insider now directly owns 10,727 shares in the company, valued at $384,562.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Lenehan purchased 3,154 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was bought at an average price of $31.74 per share, with a total value of $100,107.96. Following the completion of the transaction, the director now owns 11,214 shares of the company’s stock, valued at $355,932.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 233,312 shares of company stock valued at $7,817,972. 2.36% of the stock is owned by corporate insiders.

M stock opened at $31.95 on Wednesday. Macy’s Inc has a fifty-two week low of $20.31 and a fifty-two week high of $41.99. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.22 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.96 and a beta of 0.62.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $0.23 earnings per share. Macy’s’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Macy’s Inc will post 4.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a $0.3775 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.73%. Macy’s’s dividend payout ratio is presently 40.05%.

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About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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