Macy's, Inc. (NYSE:M) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,019,338 shares of the company's stock after selling 58,903 shares during the quarter. Schroder Investment Management Group owned 1.45% of Macy's worth $68,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of M. Trifecta Capital Advisors LLC purchased a new position in shares of Macy's during the fourth quarter worth $34,000. Quest Partners LLC purchased a new stake in Macy's in the third quarter valued at $35,000. Jones Financial Companies Lllp grew its position in Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Macy's during the 4th quarter valued at about $38,000. Finally, Tompkins Financial Corp acquired a new position in shares of Macy's in the 4th quarter valued at about $102,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $15.00 target price on shares of Macy's in a report on Wednesday. Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Friday, March 7th. UBS Group lowered their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group dropped their price target on shares of Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Finally, Morgan Stanley set a $14.00 price objective on shares of Macy's in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.30.

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Insider Transactions at Macy's

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. The trade was a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adrian V. Mitchell sold 5,122 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $65,407.94. Following the completion of the transaction, the executive vice president now directly owns 130,491 shares in the company, valued at approximately $1,666,370.07. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock valued at $537,790 over the last 90 days. 2.77% of the stock is currently owned by corporate insiders.

Macy's Price Performance

Shares of M traded down $1.76 during mid-day trading on Thursday, hitting $11.44. 15,161,221 shares of the company were exchanged, compared to its average volume of 6,098,715. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 19.38 and a beta of 2.07. Macy's, Inc. has a 1-year low of $11.04 and a 1-year high of $20.70. The company has a 50 day moving average of $14.30 and a 200-day moving average of $15.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

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

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 6.38%. The ex-dividend date was Friday, March 14th. This is a boost from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is 35.44%.

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.