Macy's, Inc. (NYSE:M) Position Lessened by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in Macy's, Inc. (NYSE:M - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 164,962 shares of the company's stock after selling 115,880 shares during the quarter. Prudential Financial Inc. owned 0.06% of Macy's worth $2,793,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Macy's by 1.2% in the fourth quarter. Arizona State Retirement System now owns 80,549 shares of the company's stock valued at $1,364,000 after purchasing an additional 958 shares during the last quarter. Pacer Advisors Inc. raised its stake in Macy's by 2.4% during the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock worth $700,000 after acquiring an additional 960 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after acquiring an additional 969 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Macy's by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 45,105 shares of the company's stock valued at $764,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in shares of Macy's by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company's stock worth $286,000 after purchasing an additional 1,229 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.

Remove Ads

Macy's Stock Performance

Shares of M stock traded down $0.06 during trading hours on Friday, reaching $11.36. 14,090,949 shares of the company's stock were exchanged, compared to its average volume of 6,112,047. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy's, Inc. has a 1 year low of $10.78 and a 1 year high of $20.70. The company has a market cap of $3.15 billion, a P/E ratio of 19.25 and a beta of 2.07. The company's 50 day moving average is $14.15 and its two-hundred day moving average is $15.18.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Equities research analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.1824 dividend. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend was Friday, March 14th. Macy's's dividend payout ratio (DPR) is presently 35.44%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Benchmark raised Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut their target price on shares of Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Morgan Stanley set a $14.00 price target on shares of Macy's in a research report on Monday, March 10th. Citigroup lowered their price objective on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Macy's presently has a consensus rating of "Hold" and an average target price of $15.30.

Insider Buying and Selling

In related news, CEO Antony Spring sold 3,124 shares of Macy's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the sale, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, the executive vice president now directly owns 116,165 shares in the company, valued at approximately $1,596,107.10. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is owned by insiders.

About Macy's

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.