Macy's, Inc. (NYSE:M) Shares Sold by AXQ Capital LP

AXQ Capital LP lowered its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 82.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,557 shares of the company's stock after selling 60,148 shares during the quarter. AXQ Capital LP's holdings in Macy's were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy's in the fourth quarter worth $34,000. Quest Partners LLC acquired a new stake in Macy's during the 3rd quarter worth about $35,000. Jones Financial Companies Lllp grew its position in Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Macy's during the 4th quarter valued at about $38,000. Finally, Tompkins Financial Corp acquired a new position in shares of Macy's in the 4th quarter valued at about $102,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Macy's

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 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 $47,938.86. Following the sale, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antony Spring sold 3,124 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now directly owns 272,680 shares in the company, valued at $3,746,623.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,013 shares of company stock worth $96,359 in the last three months. 2.77% of the stock is owned by corporate insiders.

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Macy's Price Performance

M stock traded down $0.40 during midday trading on Friday, reaching $12.79. The stock had a trading volume of 6,438,247 shares, compared to its average volume of 6,061,888. Macy's, Inc. has a 52-week low of $12.60 and a 52-week high of $20.70. 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 company's fifty day simple moving average is $14.38 and its 200 day simple moving average is $15.27. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 21.67 and a beta of 2.07.

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

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 5.71%. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is 35.44%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on M. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Friday, March 7th. Benchmark raised shares of Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. Morgan Stanley set a $14.00 price target on Macy's in a research note on Monday, March 10th. Finally, Citigroup reduced their price target on Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Macy's presently has an average rating of "Hold" and a consensus target price of $15.30.

Macy's 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.