Allspring Global Investments Holdings LLC Sells 188,642 Shares of Macy's, Inc. (NYSE:M)

Allspring Global Investments Holdings LLC trimmed its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 88.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,576 shares of the company's stock after selling 188,642 shares during the period. Allspring Global Investments Holdings LLC's holdings in Macy's were worth $386,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. OLD National Bancorp IN lifted its stake in Macy's by 2.3% during the third quarter. OLD National Bancorp IN now owns 90,000 shares of the company's stock valued at $1,412,000 after purchasing an additional 2,000 shares during the last quarter. Blue Trust Inc. increased its stake in Macy's by 619.1% in the 3rd quarter. Blue Trust Inc. now owns 4,868 shares of the company's stock valued at $76,000 after buying an additional 4,191 shares during the period. BCS Wealth Management acquired a new position in Macy's in the 3rd quarter valued at approximately $158,000. nVerses Capital LLC acquired a new position in shares of Macy's during the 3rd quarter worth $290,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Macy's by 54.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,860 shares of the company's stock worth $500,000 after purchasing an additional 11,276 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

M has been the topic of several analyst reports. Morgan Stanley dropped 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 note on Thursday, August 22nd. StockNews.com initiated coverage on shares of Macy's in a report on Saturday. They set a "hold" rating for the company. Argus raised shares of Macy's to a "hold" rating in a report on Thursday, October 10th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $21.00 price objective on shares of Macy's in a report on Wednesday, August 21st. Finally, Evercore ISI decreased their price objective on shares of Macy's from $22.00 to $17.00 and set an "in-line" rating for the company in a report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.43.

Macy's Price Performance

Shares of Macy's stock traded down $0.07 during trading on Friday, hitting $15.27. 3,816,227 shares of the company's stock traded hands, compared to its average volume of 4,080,851. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The firm's fifty day moving average price is $15.35 and its 200 day moving average price is $17.19. Macy's, Inc. has a twelve month low of $10.59 and a twelve month high of $22.10. The company has a market cap of $4.24 billion, a PE ratio of 23.86 and a beta of 2.11.

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

Macy's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, December 13th. Macy's's dividend payout ratio is currently 107.81%.

Macy's 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.