American Century Companies Inc. Buys 774,693 Shares of Macy's, Inc. (NYSE:M)

American Century Companies Inc. boosted its stake in Macy's, Inc. (NYSE:M - Free Report) by 12.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,137,132 shares of the company's stock after buying an additional 774,693 shares during the period. American Century Companies Inc. owned 2.57% of Macy's worth $120,832,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were 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 in the company, valued at approximately $1,596,107.10. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $42,923.76. Following the completion of the sale, the chief executive officer now owns 272,680 shares of the company's stock, valued at $3,746,623.20. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,013 shares of company stock worth $96,359. Corporate insiders own 2.77% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several brokerages have recently issued reports on M. Citigroup lowered their price objective on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. lowered shares of Macy's from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. The Goldman Sachs Group reduced their price objective on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Finally, Telsey Advisory Group set a $15.00 target price on Macy's in a research report on Friday, March 7th. One equities research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.30.

Macy's Stock Down 0.8 %

Macy's stock traded down $0.11 during mid-day trading on Thursday, hitting $13.17. The company's stock had a trading volume of 6,653,034 shares, compared to its average volume of 5,983,827. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy's, Inc. has a 52-week low of $12.60 and a 52-week high of $20.70. The firm's 50 day moving average is $14.42 and its 200 day moving average is $15.30. The company has a market cap of $3.66 billion, a PE ratio of 22.31 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 (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $7.76 billion. On average, analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.54%. Macy's's dividend payout ratio is 35.44%.

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.