Macy's, Inc. (NYSE:M) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 24.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,858 shares of the company's stock after selling 65,786 shares during the quarter. Franklin Resources Inc. owned about 0.07% of Macy's worth $3,502,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Trifecta Capital Advisors LLC purchased a new stake in Macy's during the fourth quarter valued at about $34,000. Jones Financial Companies Lllp lifted its stake in shares of Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after purchasing an additional 969 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Macy's during the 4th quarter worth about $38,000. Tompkins Financial Corp acquired a new stake in Macy's during the 4th quarter worth approximately $102,000. Finally, Vestcor Inc acquired a new stake in Macy's during the 4th quarter worth approximately $115,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on M. Citigroup decreased their price objective on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Cowen reiterated a "hold" rating on shares of Macy's in a report on Friday, March 7th. Telsey Advisory Group restated a "market perform" rating and set a $15.00 price objective on shares of Macy's in a research note on Wednesday, April 2nd. UBS Group decreased their target price on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their target price on Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday. 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.20.

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Macy's Stock Down 0.9 %

M stock traded down $0.11 during mid-day trading on Tuesday, hitting $11.22. 5,041,385 shares of the company were exchanged, compared to its average volume of 6,185,320. The firm has a fifty day simple moving average of $13.46 and a 200 day simple moving average of $14.96. The company has a market capitalization of $3.12 billion, a PE ratio of 19.01 and a beta of 1.73. Macy's, Inc. has a twelve month low of $9.76 and a twelve month 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.

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

Macy's Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.1824 per share. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 6.51%. The ex-dividend date was Friday, March 14th. Macy's's dividend payout ratio is currently 35.44%.

Insider Buying and Selling

In related 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the company'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 of the company's stock, valued at approximately $3,746,623.20. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 over the last ninety days. 2.77% of the stock is owned by insiders.

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.