DGS Capital Management LLC Invests $419,000 in Macy’s, Inc. (NYSE:M)

DGS Capital Management LLC bought a new stake in Macy’s, Inc. (NYSE:M) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,809 shares of the company’s stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in M. Gabelli Funds LLC increased its stake in shares of Macy’s by 0.4% during the 1st quarter. Gabelli Funds LLC now owns 129,000 shares of the company’s stock worth $3,142,000 after purchasing an additional 500 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of Macy’s by 1.8% in the first quarter. Vontobel Holding Ltd. now owns 35,384 shares of the company’s stock valued at $862,000 after buying an additional 640 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Macy’s by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,995 shares of the company’s stock worth $48,000 after acquiring an additional 685 shares during the last quarter. Estabrook Capital Management lifted its holdings in Macy’s by 77.8% during the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock valued at $39,000 after purchasing an additional 700 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Macy’s by 4.0% during the 2nd quarter. Captrust Financial Advisors now owns 20,999 shares of the company’s stock worth $337,000 after buying an additional 802 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Price Performance

Shares of NYSE:M opened at $19.00 on Wednesday. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The business has a fifty day moving average price of $19.70 and a 200-day moving average price of $17.14. The company has a market capitalization of $5.21 billion, a PE ratio of 51.35 and a beta of 2.15.

Macy’s (NYSE:M) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period last year, the company earned $1.88 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, equities analysts expect that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.66%. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Insider Activity at Macy’s

In other Macy’s news, Director Jeffrey Gennette sold 78,567 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $1,604,338.14. Following the transaction, the director now directly owns 994,301 shares of the company’s stock, valued at $20,303,626.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Gennette sold 78,567 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the transaction, the director now directly owns 994,301 shares in the company, valued at approximately $20,303,626.42. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock valued at $4,405,507 over the last ninety days. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.