American Century Companies Inc. Buys 747,542 Shares of Macy's, Inc. (NYSE:M)

American Century Companies Inc. lifted its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 18.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,704,854 shares of the company's stock after purchasing an additional 747,542 shares during the quarter. American Century Companies Inc. owned about 1.70% of Macy's worth $90,333,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in Macy's during the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC acquired a new position in Macy's during the 1st quarter worth approximately $42,000. Future Financial Wealth Managment LLC acquired a new position in Macy's during the 1st quarter worth approximately $50,000. EntryPoint Capital LLC acquired a new position in Macy's during the 1st quarter worth approximately $51,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Macy's by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 2,600 shares of the company's stock worth $52,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Insider Buying and Selling

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the 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 owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Danielle L. Kirgan sold 24,147 shares of the 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 owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value 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. Insiders have sold a total of 44,665 shares of company stock valued at $842,372 over the last three months. Company insiders own 2.77% of the company's stock.

Macy's Stock Performance

Shares of M traded up $0.48 during trading hours on Friday, reaching $15.00. 6,098,194 shares of the company's stock traded hands, compared to its average volume of 6,690,982. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 500.00 and a beta of 2.11. 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 twelve month low of $10.54 and a twelve month high of $22.10. The business's fifty day simple moving average is $16.29 and its two-hundred day simple moving average is $18.27.

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, beating analysts' consensus estimates of $0.30 by $0.23. The company had revenue of $4.94 billion for 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%. The company'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. Analysts predict that Macy's, Inc. will post 2.72 earnings per share for the current year.

Macy's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, September 13th. Macy's's payout ratio is currently 2,300.00%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on M shares. StockNews.com started coverage on Macy's in a research report on Sunday. They issued a "hold" rating on the stock. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $21.00 target price on shares of Macy's in a research report on Wednesday, August 21st. 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. Morgan Stanley cut their target price on Macy's from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 22nd. Finally, Evercore ISI dropped their price target on Macy's from $22.00 to $17.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $19.50.

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.