Factorial Partners LLC Sells 34,000 Shares of Macy’s, Inc. $M

Factorial Partners LLC reduced its stake in Macy’s, Inc. (NYSE:M) by 35.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,000 shares of the company’s stock after selling 34,000 shares during the period. Factorial Partners LLC’s holdings in Macy’s were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Macy’s during the fourth quarter valued at approximately $85,020,000. Hillsdale Investment Management Inc. acquired a new position in Macy’s during the fourth quarter valued at approximately $919,000. Rothschild Investment LLC raised its position in Macy’s by 572.2% during the fourth quarter. Rothschild Investment LLC now owns 2,998 shares of the company’s stock valued at $66,000 after purchasing an additional 2,552 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Macy’s by 31.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,528 shares of the company’s stock valued at $78,000 after purchasing an additional 851 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in Macy’s by 540.1% during the fourth quarter. Intech Investment Management LLC now owns 125,154 shares of the company’s stock valued at $2,760,000 after purchasing an additional 105,601 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Up 0.4%

Shares of NYSE:M opened at $21.84 on Tuesday. The firm has a market cap of $5.76 billion, a P/E ratio of 9.42 and a beta of 1.47. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $24.41. The business has a fifty day simple moving average of $19.30 and a 200 day simple moving average of $20.51.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.12. The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. Analysts predict that Macy’s, Inc. will post 2.1 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s dividend payout ratio (DPR) is currently 32.76%.

Insider Buying and Selling

In related news, EVP Danielle L. Kirgan sold 10,010 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $179,379.20. Following the completion of the transaction, the executive vice president directly owned 108,008 shares of the company’s stock, valued at $1,935,503.36. This trade represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $896,788.48. Following the transaction, the chief executive officer directly owned 485,791 shares of the company’s stock, valued at approximately $8,705,374.72. This represents a 9.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 94,967 shares of company stock valued at $1,705,276 in the last quarter. 1.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. UBS Group boosted their price objective on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, March 9th. Telsey Advisory Group restated a “market perform” rating and set a $20.00 price objective on shares of Macy’s in a research report on Wednesday, April 1st. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price target on shares of Macy’s in a report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.