California Public Employees Retirement System Trims Stock Position in Macy's, Inc. (NYSE:M)

California Public Employees Retirement System trimmed its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 452,354 shares of the company's stock after selling 31,151 shares during the period. California Public Employees Retirement System owned 0.16% of Macy's worth $7,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in M. American Century Companies Inc. boosted its stake in shares of Macy's by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock worth $120,832,000 after acquiring an additional 774,693 shares during the period. Norges Bank bought a new position in Macy's during the fourth quarter worth $96,689,000. Geode Capital Management LLC increased its holdings in shares of Macy's by 2.6% in the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company's stock valued at $79,110,000 after purchasing an additional 128,258 shares during the last quarter. Allianz Asset Management GmbH raised its position 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 valued at $59,461,000 after purchasing an additional 411,412 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Macy's by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock worth $56,116,000 after buying an additional 419,261 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley set a $14.00 price target on shares of Macy's in a report on Monday, March 10th. Citigroup lowered their target price on Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. UBS Group reduced their price target on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 7th. Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. One equities research 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 stock. According to data from MarketBeat, Macy's has a consensus rating of "Hold" and a consensus target price of $15.30.

Macy's Trading Down 0.7 %

Shares of Macy's stock traded down $0.08 on Friday, hitting $11.38. The stock had a trading volume of 6,651,297 shares, compared to its average volume of 6,191,161. The stock's 50-day simple moving average is $13.53 and its two-hundred day simple moving average is $14.99. Macy's, Inc. has a one year low of $9.76 and a one year high of $20.70. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 19.28 and a beta of 1.73. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, sell-side analysts predict that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.1824 dividend. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 6.41%. Macy's's dividend payout ratio is presently 35.44%.

Insider Buying and Selling at Macy's

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company's stock, valued at approximately $1,596,107.10. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Antony Spring sold 4,582 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $58,512.14. Following the transaction, the chief executive officer now directly owns 288,961 shares in the company, valued at approximately $3,690,031.97. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $537,790 over the last 90 days. 2.77% of the stock is currently owned by corporate insiders.

About Macy's

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.