Edge Wealth Management LLC bought a new position in Macy’s Inc (NYSE:M) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the company’s stock, valued at approximately $447,000.

A number of other hedge funds have also added to or reduced their stakes in M. Princeton Capital Management LLC acquired a new stake in Macy’s in the third quarter worth about $104,000. First Hawaiian Bank acquired a new stake in shares of Macy’s during the third quarter worth about $147,000. Qube Research & Technologies Ltd acquired a new stake in shares of Macy’s during the second quarter worth about $150,000. Vectors Research Management LLC acquired a new stake in shares of Macy’s during the third quarter worth about $164,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Macy’s by 39.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 5,655 shares of the company’s stock worth $196,000 after purchasing an additional 1,588 shares during the period. Institutional investors and hedge funds own 91.04% of the company’s stock.

M has been the subject of a number of analyst reports. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Wednesday, October 3rd. Canaccord Genuity upgraded Macy’s from an “average” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Friday, November 16th. Deutsche Bank boosted their price objective on Macy’s from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, November 15th. Bank of America set a $39.00 price objective on Macy’s and gave the company a “hold” rating in a research report on Thursday, November 15th. Finally, Gordon Haskett cut Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $33.26.

Shares of NYSE M traded down $0.65 during midday trading on Friday, hitting $25.46. 1,277,706 shares of the company’s stock were exchanged, compared to its average volume of 6,899,739. The company has a current ratio of 1.35, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. The company has a market cap of $9.75 billion, a PE ratio of 6.74, a P/E/G ratio of 0.91 and a beta of 0.67. Macy’s Inc has a twelve month low of $22.47 and a twelve month high of $41.99.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.13. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.40 billion. Macy’s had a net margin of 6.72% and a return on equity of 22.33%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. Sell-side analysts forecast that Macy’s Inc will post 4.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is 40.05%.

In other news, President Harry A. Lawton III sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $33.09, for a total transaction of $6,618,000.00. Following the completion of the sale, the president now owns 226,038 shares of the company’s stock, valued at $7,479,597.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Lenehan acquired 3,154 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were purchased at an average cost of $31.74 per share, with a total value of $100,107.96. Following the acquisition, the director now owns 11,214 shares of the company’s stock, valued at approximately $355,932.36. The disclosure for this purchase can be found here. 2.36% of the stock is owned by corporate insiders.

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Macy’s Profile

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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