Macy's, Inc. (NYSE:M) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 617,003 shares of the company's stock after selling 27,079 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.22% of Macy's worth $10,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Trifecta Capital Advisors LLC purchased a new stake in Macy's during the 4th quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in shares of Macy's during the third quarter worth $35,000. Jones Financial Companies Lllp grew its holdings in shares of Macy's by 82.1% during 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. Kestra Investment Management LLC acquired a new position in shares of Macy's in the 4th quarter valued at $38,000. Finally, Tompkins Financial Corp purchased a new position in Macy's in the 4th quarter worth $102,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Price Performance

NYSE M traded down $2.08 on Thursday, hitting $11.11. The company had a trading volume of 4,139,061 shares, compared to its average volume of 6,950,545. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The company's fifty day moving average price is $14.30 and its 200-day moving average price is $15.24. The company has a market capitalization of $3.08 billion, a PE ratio of 18.82 and a beta of 2.07. Macy's, Inc. has a 12-month low of $11.06 and a 12-month high of $20.70.

Remove Ads

Macy's (NYSE:M - Get Free Report) last released its 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. The business had revenue of $7.77 billion during the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. As a group, analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.1824 dividend. The ex-dividend date was Friday, March 14th. This is a positive change 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 6.57%. Macy's's payout ratio is currently 35.44%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on M shares. Morgan Stanley set a $14.00 price objective on Macy's in a report on Monday, March 10th. New Street Research set a $13.00 price target on shares of Macy's in a research report on Thursday, March 6th. 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 research note on Friday, March 7th. Finally, StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.30.

Insider Buying and Selling

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the company'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 directly owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Antony Spring sold 3,124 shares of the business'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 directly owns 272,680 shares in the company, valued at $3,746,623.20. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,751 shares of company stock worth $537,790. 2.77% of the stock is owned by corporate 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.