Invesco Ltd. Sells 24,928 Shares of Macy's, Inc. (NYSE:M)

Invesco Ltd. lessened its stake in Macy's, Inc. (NYSE:M - Free Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,697,961 shares of the company's stock after selling 24,928 shares during the quarter. Invesco Ltd. owned 0.61% of Macy's worth $28,746,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new stake in Macy's in the 4th quarter valued at approximately $34,000. Jones Financial Companies Lllp raised its holdings in shares of 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 purchasing an additional 969 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Macy's during the fourth quarter worth $38,000. Tompkins Financial Corp bought a new position in Macy's in the fourth quarter valued at $102,000. Finally, Vestcor Inc bought a new stake in Macy's during the 4th quarter worth about $115,000. Institutional investors own 87.36% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 target price on shares of Macy's in a research report on Wednesday, April 2nd. Citigroup lowered their price target on Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Morgan Stanley set a $14.00 price target on shares of Macy's in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.40.

Insider Transactions at Macy's

In related news, EVP Adrian V. Mitchell sold 5,122 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $65,407.94. Following the sale, the executive vice president now directly owns 130,491 shares of the company's stock, valued at $1,666,370.07. This trade represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Antony Spring sold 4,582 shares of the firm'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 transaction of $58,512.14. Following the completion of the sale, the chief executive officer now owns 288,961 shares in the company, valued at approximately $3,690,031.97. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is owned by corporate insiders.

Macy's Stock Performance

Shares of M stock traded up $0.56 during midday trading on Wednesday, hitting $11.39. 1,660,400 shares of the company were exchanged, compared to its average volume of 7,229,220. The firm has a market capitalization of $3.17 billion, a P/E ratio of 19.31 and a beta of 1.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70. The firm's 50 day moving average price is $13.03 and its two-hundred day moving average price is $14.77.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data 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. The company 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, equities research 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 announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.41%. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's dividend payout ratio is presently 35.44%.

Macy's 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.