Gabelli Funds LLC Has $3.19 Million Stake in Macy’s, Inc. (NYSE:M)

Gabelli Funds LLC boosted its stake in shares of Macy’s, Inc. (NYSE:M) by 16.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,750 shares of the company’s stock after buying an additional 22,250 shares during the quarter. Gabelli Funds LLC’s holdings in Macy’s were worth $3,193,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Macy’s by 44.9% during the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after buying an additional 160,093 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after acquiring an additional 877 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Macy’s in the 4th quarter valued at about $19,372,000. Atlas Capital Advisors LLC boosted its position in shares of Macy’s by 1,122.9% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock valued at $354,000 after purchasing an additional 16,248 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Macy’s by 13.9% during the 4th quarter. CWM LLC now owns 7,587 shares of the company’s stock valued at $153,000 after purchasing an additional 924 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Up 0.7 %

Shares of M traded up $0.11 on Friday, reaching $16.57. The company’s stock had a trading volume of 4,790,606 shares, compared to its average volume of 6,688,429. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The stock has a market capitalization of $4.58 billion, a PE ratio of 552.33 and a beta of 2.18. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average of $18.51 and a 200-day moving average of $19.00.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. Equities analysts predict that Macy’s, Inc. will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.69 dividend on an annualized basis and a yield of 4.19%. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Insiders Place Their Bets

In related news, CEO Antony Spring sold 18,981 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 value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’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 sale, 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. Over the last 90 days, insiders have sold 43,464 shares of company stock valued at $824,081. Company insiders own 2.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on M shares. JPMorgan Chase & Co. boosted their price target on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. StockNews.com assumed coverage on shares of Macy’s in a research note on Sunday, July 21st. They set a “hold” rating on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Tuesday, May 21st. TD Cowen upped their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Finally, Evercore ISI reduced their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.10.

About Macy’s

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.