LSV Asset Management Has $103.18 Million Holdings in Macy's, Inc. (NYSE:M)

LSV Asset Management raised its stake in Macy's, Inc. (NYSE:M - Free Report) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,374,167 shares of the company's stock after purchasing an additional 68,300 shares during the period. LSV Asset Management owned about 1.94% of Macy's worth $103,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in M. Russell Investments Group Ltd. lifted its position in Macy's by 44.9% in the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company's stock valued at $10,331,000 after purchasing an additional 160,093 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Macy's by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company's stock worth $2,839,000 after purchasing an additional 877 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Macy's during the 1st quarter worth $1,043,000. Invenomic Capital Management LP purchased a new position in shares of Macy's in the 4th quarter valued at about $19,372,000. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Macy's by 1,122.9% in the first 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 period. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on M shares. StockNews.com began coverage on shares of Macy's in a research report on Saturday. They set a "hold" rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Macy's from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, May 22nd. 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. TD Cowen upped their price target on shares of Macy's from $20.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, May 22nd. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $21.00 price objective on shares of Macy's in a research note on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Macy's presently has a consensus rating of "Hold" and an average target price of $19.50.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the company's stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares of the company's stock, valued at approximately $6,598,080. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Antony Spring sold 18,981 shares of the business's stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold 44,665 shares of company stock worth $842,372 in the last ninety days. Insiders own 2.77% of the company's stock.

Macy's Trading Down 0.7 %

Shares of M traded down $0.09 during midday trading on Monday, hitting $14.52. The stock had a trading volume of 6,220,368 shares, compared to its average volume of 6,736,574. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.03 billion, a P/E ratio of 483.83 and a beta of 2.11. Macy's, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The business has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $18.40.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy's had a return on equity of 23.14% and a net margin of 0.80%. Macy's's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. As a group, equities analysts forecast that Macy's, Inc. will post 2.72 EPS for the current year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Friday, September 13th. Macy's's dividend payout ratio (DPR) is presently 2,300.00%.

About Macy's

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.