Arrowstreet Capital Limited Partnership Cuts Stock Position in Macy's, Inc. (NYSE:M)

Arrowstreet Capital Limited Partnership lowered its position in Macy's, Inc. (NYSE:M - Free Report) by 32.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,163,749 shares of the company's stock after selling 2,003,751 shares during the period. Arrowstreet Capital Limited Partnership owned 1.50% of Macy's worth $70,492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Macy's during the 4th quarter worth about $96,689,000. American Century Companies Inc. boosted its position in Macy's by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock worth $120,832,000 after purchasing an additional 774,693 shares during the period. Barington Capital Group L.P. grew its holdings in Macy's by 550.0% during the third quarter. Barington Capital Group L.P. now owns 650,000 shares of the company's stock valued at $10,198,000 after purchasing an additional 550,000 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Macy's by 14.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock valued at $56,116,000 after purchasing an additional 419,261 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Macy's by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company's stock worth $59,461,000 after buying an additional 411,412 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

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Macy's Stock Down 0.4 %

Shares of NYSE M traded down $0.05 during midday trading on Friday, reaching $11.37. The company's stock had a trading volume of 10,619,962 shares, compared to its average volume of 6,104,307. The stock has a 50 day simple moving average of $14.23 and a 200-day simple moving average of $15.21. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.23 and a beta of 2.07. Macy's, Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $20.70.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. Equities research analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 6.42%. Macy's's dividend payout ratio (DPR) is presently 35.44%.

Insider Activity

In other news, CEO Antony Spring sold 3,124 shares of Macy's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the transaction, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now directly owns 4,723 shares of the company's stock, valued at approximately $59,887.64. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Gordon Haskett lowered Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. New Street Research set a $13.00 price objective on shares of Macy's in a research note on Thursday, March 6th. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. UBS Group decreased their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 7th. Finally, Citigroup dropped their price objective on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Macy's has a consensus rating of "Hold" and a consensus price target of $15.30.

Macy's Company Profile

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.