Waterfront Wealth Inc. Increases Stock Position in Macy’s, Inc. (NYSE:M)

Waterfront Wealth Inc. raised its position in shares of Macy’s, Inc. (NYSE:M) by 7.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 158,670 shares of the company’s stock after purchasing an additional 10,716 shares during the quarter. Macy’s accounts for about 0.9% of Waterfront Wealth Inc.’s holdings, making the stock its 26th biggest holding. Waterfront Wealth Inc.’s holdings in Macy’s were worth $3,192,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after purchasing an additional 2,645,577 shares in the last quarter. Deutsche Bank AG raised its holdings in Macy’s by 260.8% in the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after purchasing an additional 1,841,432 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Macy’s by 15.7% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 544,534 shares of the company’s stock worth $6,322,000 after purchasing an additional 73,924 shares in the last quarter. American Century Companies Inc. raised its holdings in Macy’s by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after purchasing an additional 565,269 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Macy’s in the 4th quarter worth about $6,021,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Up 0.1 %

NYSE:M traded up $0.02 on Wednesday, reaching $19.01. 4,148,515 shares of the stock traded hands, compared to its average volume of 8,105,331. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 51.38 and a beta of 2.15. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company’s fifty day simple moving average is $19.71 and its 200 day simple moving average is $17.16.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. Macy’s’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.88 EPS. Equities analysts predict that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is presently 186.49%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Thursday, March 28th. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Morgan Stanley decreased their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Finally, Citigroup upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Macy’s presently has an average rating of “Hold” and a consensus target price of $17.45.

Insider Activity

In other news, CFO Adrian V. Mitchell sold 13,249 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the sale, the chief financial officer now owns 99,098 shares of the company’s stock, valued at approximately $2,023,581.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Adrian V. Mitchell sold 13,249 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the sale, the chief financial officer now owns 99,098 shares of the company’s stock, valued at approximately $2,023,581.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the transaction, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock valued at $4,405,507 in the last 90 days. 1.52% of the stock is currently owned by insiders.

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.