Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 36.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,041 shares of the company's stock after selling 45,210 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Macy's were worth $1,321,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Macy's by 1.2% in the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company's stock valued at $1,364,000 after purchasing an additional 958 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Macy's by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock valued at $700,000 after buying an additional 960 shares during the period. Jones Financial Companies Lllp lifted its position in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after buying an additional 969 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Macy's by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 45,105 shares of the company's stock worth $764,000 after buying an additional 1,122 shares during the period. Finally, Impact Partnership Wealth LLC increased its position in shares of Macy's by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company's stock valued at $286,000 after acquiring an additional 1,229 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.
Macy's Stock Down 0.7 %
Shares of M stock traded down $0.08 on Friday, reaching $11.38. 6,651,297 shares of the stock were exchanged, compared to its average volume of 6,194,116. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 19.28 and a beta of 1.73. The business's 50 day moving average price is $13.53 and its 200 day moving average price is $14.98. 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, Inc. has a twelve month low of $9.76 and a twelve month high of $20.70.
Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. As a group, sell-side analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.
Macy's Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.1824 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 6.41%. Macy's's payout ratio is 35.44%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 7th. Telsey Advisory Group restated a "market perform" rating and set a $15.00 price target on shares of Macy's in a research report on Wednesday, April 2nd. Morgan Stanley set a $14.00 price objective on Macy's in a report on Monday, March 10th. JPMorgan Chase & Co. cut Macy's from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $19.00 to $14.00 in a report on Thursday, March 6th. Finally, Cowen reaffirmed a "hold" rating on shares of Macy's in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Macy's currently has a consensus rating of "Hold" and a consensus price target of $15.30.
Check Out Our Latest Report on M
Insider Buying and Selling at Macy's
In other Macy's 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 value of $47,938.86. Following the completion of the sale, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the firm'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 $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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock worth $537,790 over the last 90 days. Corporate insiders own 2.77% of the company's stock.
Macy's Company Profile
(
Free Report)
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.
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