Macy's, Inc. (NYSE:M) Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in Macy's, Inc. (NYSE:M - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,659,945 shares of the company's stock after selling 507,200 shares during the quarter. LSV Asset Management owned about 1.68% of Macy's worth $78,893,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in M. Virtu Financial LLC purchased a new stake in Macy's in the third quarter valued at approximately $594,000. HB Wealth Management LLC increased its holdings in Macy's by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after purchasing an additional 91,015 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Macy's by 57.9% in the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after purchasing an additional 286,879 shares in the last quarter. SG Americas Securities LLC lifted its stake in Macy's by 1,076.9% during the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock worth $3,027,000 after purchasing an additional 163,587 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Macy's by 155.8% in the 4th quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company's stock valued at $1,381,000 after buying an additional 49,715 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

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Macy's Stock Performance

Macy's stock traded up $0.05 during midday trading on Wednesday, reaching $11.25. The stock had a trading volume of 1,969,604 shares, compared to its average volume of 6,175,586. The firm's 50-day moving average price is $13.40 and its 200 day moving average price is $14.93. 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, Inc. has a 12 month low of $9.76 and a 12 month high of $20.70. The firm has a market capitalization of $3.13 billion, a PE ratio of 19.07 and a beta of 1.73.

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, beating analysts' consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. As a group, research 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 announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1824 per share. This is a positive change from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.49%. Macy's's payout ratio is presently 35.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on M. Gordon Haskett lowered Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lowered their price target on Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday. Cowen reiterated a "hold" rating on shares of Macy's in a research report on Friday, March 7th. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Benchmark upgraded shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.20.

Insiders Place Their Bets

In other news, CEO Antony Spring sold 20,868 shares of Macy's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company's stock, valued at approximately $4,073,373.92. The trade was a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company's stock.

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.