Stratos Wealth Partners Invests $126,000 in Macy’s Inc. Shares

Stratos Wealth Partners LTD. recently acquired a new position in Macy’s Inc., purchasing 10,770 shares valued at approximately $126,000. This investment was made during the second quarter of 2023, as reported by Holdings Channel. The move follows a trend among institutional investors and hedge funds, who have also adjusted their stakes in the retail company.

Several other firms have increased their holdings in Macy’s. For instance, Summit Securities Group LLC raised its position by 106.0% during the first quarter, now owning 2,200 shares worth around $28,000 after acquiring an additional 38,800 shares. Similarly, UMB Bank n.a. reported a significant increase of 523.0% in their holdings during the second quarter, bringing their total to 3,171 shares valued at approximately $37,000.

Additionally, Fifth Third Bancorp raised its stake by 28.7%, now owning 4,876 shares valued at $57,000. GAMMA Investing LLC also made headlines with a 116.2% increase, acquiring 7,590 shares worth $88,000. Collectively, institutional investors and hedge funds now control 87.36% of Macy’s stock.

Analyst Ratings and Stock Performance

In terms of market sentiment, several research firms have updated their ratings on Macy’s stock. Notably, Zacks Research upgraded the company from a “hold” rating to a “strong-buy” on September 18, 2023. Furthermore, JPMorgan Chase & Co. raised their price objective from $12.00 to $16.00 while maintaining a “neutral” rating. Citigroup echoed this sentiment with a similar price target increase, while UBS Group adjusted their target to $6.50 with a “sell” rating. Jefferies Financial Group took a more optimistic view, raising their target to $18.50 and assigning a “buy” rating.

As of now, the consensus rating for Macy’s stock stands at “Hold” with an average price target of $15.45. Analysts have assigned two “strong buy” ratings, one “buy,” eleven “hold,” and one “sell” rating.

Insider Transactions and Financial Performance

In related news, significant insider trading has occurred at Macy’s. On September 5, 2023, Executive Vice President Danielle L. Kirgan sold 100,000 shares at an average price of $17.30, totaling $1,730,000. Following this sale, Kirgan retains 286,161 shares, valued at approximately $4,950,585.30. This transaction reflects a 25.90% decrease in her holdings.

Additionally, Senior Vice President Paul Griscom sold 12,843 shares on September 11, 2023, at an average price of $17.26, amounting to $221,670.18. Post-transaction, Griscom owns 23,379 shares, valued at around $403,521.54, representing a 35.46% decrease in his position. Over the last three months, insiders have sold a total of 212,843 shares valued at $3,726,670. Currently, insiders hold 2.77% of the company’s stock.

Macy’s stock opened at $18.73 on Monday, showing a 0.5% increase. The company has experienced a twelve-month low of $9.76 and a high of $19.08. With a market capitalization of $5.03 billion, the stock has a P/E ratio of 10.70 and a beta of 1.78.

The latest earnings report released on September 3, 2023, revealed earnings per share of $0.41, exceeding analysts’ expectations of $0.19. Revenue reached $4.81 billion, surpassing the consensus estimate of $4.69 billion, although this figure represents a 2.5% decline compared to the previous year. For the third quarter of 2025, Macy’s has guided earnings per share between -0.200 and 0.150, with a full-year estimate of 1.700 to 2.050.

Additionally, Macy’s has announced a quarterly dividend of $0.1824, which was paid on October 1, 2023, to shareholders on record as of September 15, 2023. This dividend represents an annualized rate of $0.73, yielding 3.9%. The ex-dividend date was also set for September 15, 2023, and the current dividend payout ratio stands at 41.71%.

Macy’s, Inc. operates in the retail sector, offering a range of products including apparel, accessories, cosmetics, and home furnishings under well-known brands such as Macy’s and Bloomingdale’s. For further updates on institutional holdings and insider transactions, stakeholders can visit HoldingsChannel.com.