Gateway Investment Advisers LLC Sells 890 Shares of Macy’s, Inc. (NYSE:M)

Gateway Investment Advisers LLC trimmed its holdings in Macy’s, Inc. (NYSE:M) by 5.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,673 shares of the company’s stock after selling 890 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Macy’s were worth $313,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Glassman Wealth Services raised its holdings in Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Macy’s during the 4th quarter valued at $50,000. Covestor Ltd raised its holdings in Macy’s by 25.5% during the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock valued at $55,000 after buying an additional 969 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in Macy’s by 1,166.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock valued at $55,000 after buying an additional 2,532 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Macy’s

In other Macy’s news, Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the sale, the director now directly owns 1,073,699 shares in the company, valued at approximately $21,108,922.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Danielle L. Kirgan sold 6,680 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $131,328.80. Following the completion of the sale, the executive vice president now directly owns 324,635 shares in the company, valued at $6,382,324.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Gennette sold 30,090 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.66, for a total transaction of $591,569.40. Following the completion of the sale, the director now owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,430 shares of company stock worth $1,285,499. 2.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on M. JPMorgan Chase & Co. upped their price target on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. The Goldman Sachs Group upped their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a report on Tuesday, May 21st. StockNews.com began coverage on shares of Macy’s in a report on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley decreased their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.70.

Macy’s Stock Down 2.1 %

Shares of Macy’s stock opened at $19.06 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. The company has a 50-day moving average of $19.08 and a 200 day moving average of $19.30. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 635.33 and a beta of 2.16. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M) last issued its quarterly 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 company 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%. Macy’s’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.79 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Macy’s Company Profile

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.