Affinity Capital Advisors LLC Has $190,000 Stock Holdings in Macy’s, Inc. (NYSE:M)

Affinity Capital Advisors LLC lifted its holdings in shares of Macy’s, Inc. (NYSE:M) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,116 shares of the company’s stock after purchasing an additional 1,248 shares during the period. Affinity Capital Advisors LLC’s holdings in Macy’s were worth $190,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its position in shares of Macy’s by 44.9% during the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after purchasing an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Macy’s by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after purchasing an additional 877 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Macy’s during the 1st quarter worth $1,043,000. WINTON GROUP Ltd boosted its holdings in shares of Macy’s by 96.4% in the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock worth $2,047,000 after buying an additional 52,337 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in Macy’s during the fourth quarter valued at about $19,372,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on M shares. Morgan Stanley lowered their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. StockNews.com initiated coverage on shares of Macy’s in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. Evercore ISI reduced their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Macy’s has an average rating of “Hold” and an average price target of $20.43.

Macy’s Stock Down 2.8 %

M opened at $15.37 on Tuesday. The company has a 50 day moving average of $15.61 and a 200 day moving average of $17.68. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a market cap of $4.25 billion, a PE ratio of 512.17 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.1737 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.52%. Macy’s’s dividend payout ratio (DPR) is currently 2,300.00%.

Insider Activity at Macy’s

In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Macy’s news, 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 value of $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction on 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 owns 267,265 shares in the company, valued at approximately $5,067,344.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,665 shares of company stock valued at $842,372. Corporate insiders own 2.77% of the company’s stock.

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.