Commerce Bank Trims Holdings in Macy’s, Inc. (NYSE:M)

Commerce Bank lowered its position in Macy’s, Inc. (NYSE:M) by 29.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,141 shares of the company’s stock after selling 6,390 shares during the period. Commerce Bank’s holdings in Macy’s were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Macy’s during the third quarter worth about $594,000. HB Wealth Management LLC grew its stake in shares of Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after purchasing an additional 91,015 shares during the period. Retirement Systems of Alabama raised its stake in shares of Macy’s by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after buying an additional 286,879 shares during the period. SG Americas Securities LLC lifted its position in shares of Macy’s by 1,076.9% during the 4th quarter. SG Americas Securities LLC now owns 178,778 shares of the company’s stock valued at $3,027,000 after buying an additional 163,587 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Macy’s by 155.8% in the 4th quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company’s stock valued at $1,381,000 after acquiring an additional 49,715 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on M shares. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. New Street Research set a $13.00 price objective on Macy’s in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded Macy’s from a “buy” rating to a “neutral” rating and decreased their target price for the company from $17.00 to $12.00 in a research report on Tuesday. Finally, Benchmark upgraded Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.40.

Macy’s Stock Up 2.0 %

Shares of M opened at $11.02 on Friday. Macy’s, Inc. has a 52-week low of $9.76 and a 52-week high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $12.86 and a two-hundred day simple moving average of $14.72. The company has a market capitalization of $3.07 billion, a PE ratio of 18.68 and a beta of 1.73.

Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 6.62%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Macy’s’s dividend payout ratio is presently 35.44%.

Insiders Place Their Bets

In related news, EVP Adrian V. Mitchell sold 5,122 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the transaction, the executive vice president now owns 130,491 shares of the company’s stock, valued at approximately $1,666,370.07. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 over the last quarter. 2.77% of the stock is owned by insiders.

Macy’s Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.