Federated Hermes Inc. Buys 1,095 Shares of Macy’s, Inc. (NYSE:M)

Federated Hermes Inc. raised its stake in Macy’s, Inc. (NYSE:M) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,337 shares of the company’s stock after buying an additional 1,095 shares during the period. Federated Hermes Inc.’s holdings in Macy’s were worth $851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Macy’s in the first quarter valued at approximately $27,000. Fidelis Capital Partners LLC bought a new stake in Macy’s during the 1st quarter worth approximately $42,000. Future Financial Wealth Managment LLC acquired a new position in Macy’s in the 1st quarter valued at approximately $50,000. EntryPoint Capital LLC bought a new position in shares of Macy’s during the first quarter valued at $51,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Macy’s by 81.4% during the fourth quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock worth $61,000 after purchasing an additional 1,355 shares during the period. Institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the subject of a number of recent research reports. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Morgan Stanley cut their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. StockNews.com started coverage on shares of Macy’s in a research report on Monday. They set a “hold” rating for the company. Finally, Evercore ISI lowered their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.50.

Insider Activity at Macy’s

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was 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 in the company, valued at $5,067,344.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Macy’s 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 transaction of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Insiders sold 44,665 shares of company stock valued at $842,372 in the last three months. Corporate insiders own 2.77% of the company’s stock.

Macy’s Trading Down 0.2 %

Shares of M stock opened at $15.30 on Monday. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a 50 day simple moving average of $15.90 and a two-hundred day simple moving average of $18.12. The company has a market cap of $4.23 billion, a P/E ratio of 510.00 and a beta of 2.11.

Macy’s (NYSE:M) last released its quarterly earnings data 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. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Research analysts forecast that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.54%. Macy’s’s dividend payout ratio is presently 2,300.00%.

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.