Dimensional Fund Advisors LP Increases Stock Position in Macy's, Inc. (NYSE:M)

Dimensional Fund Advisors LP increased its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,489,334 shares of the company's stock after buying an additional 1,379,476 shares during the period. Dimensional Fund Advisors LP owned 5.60% of Macy's worth $297,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in M. Riverview Trust Co bought a new position in Macy's in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new position in Macy's in the 1st quarter valued at $42,000. Future Financial Wealth Managment LLC bought a new stake in shares of Macy's during the 1st quarter valued at $50,000. EntryPoint Capital LLC acquired a new stake in shares of Macy's during the 1st quarter worth $51,000. Finally, Principal Securities Inc. acquired a new stake in shares of Macy's during the 4th quarter worth $59,000. 87.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on M shares. Morgan Stanley reduced their price target on shares of 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. Telsey Advisory Group reiterated a "market perform" rating and issued a $21.00 price target on shares of Macy's in a research note on Wednesday, August 21st. StockNews.com started coverage on Macy's in a report on Sunday. They set a "hold" rating for the company. JPMorgan Chase & Co. raised their price objective on Macy's from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, May 22nd. Finally, Evercore ISI lowered their target price on Macy's from $22.00 to $17.00 and set an "in-line" rating for the company in a research note on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.50.

Macy's Trading Up 0.6 %

Shares of NYSE M traded up $0.09 during trading on Wednesday, reaching $15.12. The company had a trading volume of 5,648,348 shares, compared to its average volume of 6,655,540. Macy's, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.18 billion, a P/E ratio of 504.00 and a beta of 2.11. The company's fifty day moving average price is $16.13 and its 200-day moving average price is $18.23.

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

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, September 13th. Macy's's dividend payout ratio (DPR) is 2,300.00%.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 24,147 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 $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Macy's news, EVP Danielle L. Kirgan sold 24,147 shares of the firm's 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 sale, the executive vice president now owns 348,000 shares of the company's stock, valued at $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antony Spring sold 18,981 shares of the company's 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 $359,879.76. Following the transaction, the chief executive officer now directly owns 267,265 shares in the company, valued at $5,067,344.40. The disclosure for this sale can be found here. Insiders sold 44,665 shares of company stock worth $842,372 in the last quarter. 2.77% of the stock is owned by corporate insiders.

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.