Macy's, Inc. (NYSE:M) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 88.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,364 shares of the company's stock after selling 134,081 shares during the quarter. Teacher Retirement System of Texas' holdings in Macy's were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. West Tower Group LLC increased its holdings in shares of Macy's by 56.7% in the fourth quarter. West Tower Group LLC now owns 73,645 shares of the company's stock valued at $1,247,000 after purchasing an additional 26,659 shares during the period. Xponance Inc. boosted its position in Macy's by 6.4% in the fourth quarter. Xponance Inc. now owns 38,544 shares of the company's stock valued at $653,000 after buying an additional 2,316 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Macy's by 6.2% in the 4th quarter. Corient Private Wealth LLC now owns 129,570 shares of the company's stock worth $2,193,000 after buying an additional 7,617 shares during the period. Royce & Associates LP raised its position in Macy's by 1.8% during the 4th quarter. Royce & Associates LP now owns 1,445,000 shares of the company's stock worth $24,464,000 after buying an additional 25,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Macy's by 2.6% during the 4th 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 during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently issued reports on M shares. Benchmark raised shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. UBS Group lowered their target price on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. cut Macy's from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $19.00 to $14.00 in a research report on Thursday, March 6th. Finally, New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Macy's presently has an average rating of "Hold" and a consensus price target of $15.30.

Insider Activity

In related news, CEO Antony Spring sold 3,124 shares of Macy's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the executive vice president now owns 130,491 shares of the company's stock, valued at approximately $1,666,370.07. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock worth $537,790 over the last three months. Insiders own 2.77% of the company's stock.

Macy's Price Performance

Shares of NYSE M traded down $1.76 during trading on Thursday, hitting $11.44. The company had a trading volume of 15,161,221 shares, compared to its average volume of 6,084,609. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 19.38 and a beta of 2.07. The stock has a fifty day simple moving average of $14.23 and a two-hundred day simple moving average of $15.21. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy's, Inc. has a fifty-two week low of $11.04 and a fifty-two week high of $20.70.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion for 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%. On average, research analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

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

Macy's Profile

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.