Macy’s Inc (M) Position Raised by Regal Investment Advisors LLC

Regal Investment Advisors LLC lifted its holdings in shares of Macy’s Inc (NYSE:M) by 19.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,720 shares of the company’s stock after acquiring an additional 8,263 shares during the quarter. Regal Investment Advisors LLC’s holdings in Macy’s were worth $1,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in M. Baker Ellis Asset Management LLC purchased a new position in Macy’s in the second quarter worth about $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Macy’s in the second quarter worth about $116,000. Qube Research & Technologies Ltd purchased a new position in Macy’s in the second quarter worth about $150,000. First Hawaiian Bank purchased a new position in Macy’s in the third quarter worth about $147,000. Finally, Highstreet Asset Management Inc. boosted its position in Macy’s by 1,475.0% in the second quarter. Highstreet Asset Management Inc. now owns 4,410 shares of the company’s stock worth $165,000 after purchasing an additional 4,130 shares during the last quarter. 91.27% of the stock is currently owned by institutional investors.

Shares of M opened at $37.79 on Friday. The company has a market cap of $11.37 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.11 and a beta of 0.62. Macy’s Inc has a 12-month low of $17.80 and a 12-month high of $41.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 1.53.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.20. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.55 billion. Macy’s had a return on equity of 23.55% and a net margin of 6.65%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. On average, equities analysts expect that Macy’s Inc will post 3.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

In other news, Director William H. Lenehan acquired 2,092 shares of Macy’s stock in a transaction on Friday, August 17th. The shares were acquired at an average price of $35.78 per share, with a total value of $74,851.76. Following the purchase, the director now directly owns 8,060 shares in the company, valued at approximately $288,386.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the sale, the president now directly owns 54,722 shares in the company, valued at approximately $1,972,728.10. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by company insiders.

Several research firms have recently commented on M. Cowen raised their price objective on Macy’s from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, August 16th. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday, October 3rd. Goldman Sachs Group began coverage on Macy’s in a research note on Monday, September 3rd. They issued a “sell” rating and a $33.00 price objective on the stock. Deutsche Bank raised their price objective on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Finally, ValuEngine downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.37.

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About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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