Allspring Global Investments Holdings LLC Increases Stock Position in Macy's, Inc. (NYSE:M)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 33.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,218 shares of the company's stock after buying an additional 53,471 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Macy's worth $4,094,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in shares of Macy's by 44.9% during the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company's stock valued at $10,331,000 after buying an additional 160,093 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Macy's by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company's stock valued at $2,839,000 after acquiring an additional 877 shares in the last quarter. Virtu Financial LLC purchased a new position in Macy's in the first quarter worth $1,043,000. Invenomic Capital Management LP acquired a new position in shares of Macy's during the fourth quarter worth $19,372,000. Finally, Atlas Capital Advisors LLC lifted its holdings in shares of Macy's by 1,122.9% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company's stock valued at $354,000 after purchasing an additional 16,248 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Insider Buying and Selling at Macy's

In related news, CEO Antony Spring sold 18,981 shares of the company's stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares of the company's stock, valued at approximately $5,067,344.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the business's stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares of the company's stock, valued at approximately $6,598,080. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Antony Spring sold 18,981 shares of the firm's stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares of the company's stock, valued at $5,067,344.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,464 shares of company stock worth $824,081. Corporate insiders own 2.77% of the company's stock.

Macy's Price Performance

NYSE M remained flat at $15.57 during trading hours on Monday. The company had a trading volume of 5,960,900 shares, compared to its average volume of 6,763,155. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 519.00 and a beta of 2.18. The firm has a fifty day moving average price of $16.98 and a 200-day moving average price of $18.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. Macy's, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy's had a net margin of 0.80% and a return on equity of 23.14%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities analysts forecast that Macy's, Inc. will post 2.73 EPS for the current fiscal year.

Macy's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, September 13th. Macy's's dividend payout ratio is currently 2,300.00%.

Analyst Upgrades and Downgrades

M has been the topic of several recent analyst reports. Evercore ISI cut their price objective on shares of Macy's from $22.00 to $17.00 and set an "in-line" rating on the stock in a report on Tuesday, July 16th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $21.00 price target on shares of Macy's in a report on Wednesday, August 21st. Morgan Stanley dropped their price objective on shares of Macy's from $18.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their target price on Macy's from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, May 22nd. Finally, StockNews.com began coverage on Macy's in a research report on Friday. They set a "hold" rating for the company. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.50.

Macy's Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.