Hsbc Holdings PLC Lowers Stock Position in Macy’s, Inc. (NYSE:M)

Hsbc Holdings PLC trimmed its holdings in shares of Macy’s, Inc. (NYSE:M) by 88.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,720 shares of the company’s stock after selling 2,223,925 shares during the quarter. Hsbc Holdings PLC owned approximately 0.11% of Macy’s worth $5,556,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. CWM LLC grew its position in shares of Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Macy’s by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after purchasing an additional 761 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Macy’s by 13.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock valued at $139,000 after purchasing an additional 800 shares during the last quarter. Wedmont Private Capital grew its stake in Macy’s by 6.1% during the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after buying an additional 833 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Macy’s by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after buying an additional 877 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of M opened at $15.07 on Wednesday. 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 market capitalization of $4.17 billion, a P/E ratio of 502.33 and a beta of 2.11. The business’s 50-day moving average is $15.83 and its two-hundred day moving average is $18.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy’s (NYSE:M) last announced its quarterly earnings results 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 firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. 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 earned $0.26 EPS. Research analysts predict that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s dividend payout ratio is presently 2,300.00%.

Analyst Ratings Changes

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

Insider Buying and Selling at Macy’s

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

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.