SG Americas Securities LLC Has $4.67 Million Stock Holdings in Macy’s, Inc. $M

SG Americas Securities LLC raised its stake in Macy’s, Inc. (NYSE:M) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,813 shares of the company’s stock after purchasing an additional 32,206 shares during the quarter. SG Americas Securities LLC’s holdings in Macy’s were worth $4,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RWC Asset Management LLP boosted its holdings in shares of Macy’s by 2.4% in the 3rd quarter. RWC Asset Management LLP now owns 10,902,310 shares of the company’s stock valued at $195,478,000 after buying an additional 255,473 shares during the last quarter. American Century Companies Inc. increased its holdings in Macy’s by 6.6% during the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock worth $193,004,000 after buying an additional 669,729 shares during the last quarter. Schroder Investment Management Group raised its position in Macy’s by 1.1% during the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock worth $174,608,000 after acquiring an additional 110,548 shares in the last quarter. State Street Corp raised its position in Macy’s by 0.5% during the second quarter. State Street Corp now owns 9,420,372 shares of the company’s stock worth $111,547,000 after acquiring an additional 45,997 shares in the last quarter. Finally, Cooper Creek Partners Management LLC lifted its stake in Macy’s by 13.4% in the second quarter. Cooper Creek Partners Management LLC now owns 7,395,091 shares of the company’s stock valued at $86,227,000 after acquiring an additional 876,606 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

NYSE:M opened at $18.10 on Thursday. Macy’s, Inc. has a one year low of $9.76 and a one year high of $24.41. The company has a market cap of $4.77 billion, a P/E ratio of 7.80 and a beta of 1.50. The firm’s fifty day moving average price is $19.70 and its two-hundred day moving average price is $20.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. Macy’s’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.80 EPS. Equities analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 4.2%. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is 33.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup decreased their price objective on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Guggenheim assumed coverage on shares of Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Evercore lifted their price target on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a report on Friday, December 5th. TD Cowen lowered their price target on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Finally, Zacks Research lowered Macy’s from a “hold” rating to a “strong sell” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $18.90.

Macy’s Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.