Vanguard Group Inc. Sells 758,366 Shares of Macy's, Inc. (NYSE:M)

Vanguard Group Inc. reduced its position in Macy's, Inc. (NYSE:M - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,507,889 shares of the company's stock after selling 758,366 shares during the quarter. Vanguard Group Inc. owned approximately 11.71% of Macy's worth $550,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in M. Trifecta Capital Advisors LLC bought a new position in shares of Macy's in the fourth quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in shares of Macy's in the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp raised its stake 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 purchasing an additional 969 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Macy's in the 4th quarter worth approximately $38,000. Finally, Tompkins Financial Corp bought a new position in shares of Macy's in the 4th quarter worth $102,000. 87.36% of the stock is currently owned by institutional investors.

Insider Activity

In other Macy's news, CEO Antony Spring sold 3,124 shares of Macy's stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 of the company's stock, valued at $3,746,623.20. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares of the company's stock, valued at approximately $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 in the last 90 days. Company insiders own 2.77% of the company's stock.

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Macy's Stock Down 13.3 %

M traded down $1.76 on Thursday, hitting $11.44. The company had a trading volume of 15,154,337 shares, compared to its average volume of 6,098,681. Macy's, Inc. has a 52-week low of $11.04 and a 52-week high of $20.70. The firm has a market capitalization of $3.17 billion, a P/E ratio of 19.38 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $15.24.

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

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.1824 dividend. The ex-dividend date was Friday, March 14th. 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 6.38%. Macy's's dividend payout ratio (DPR) is presently 35.44%.

Analyst Ratings Changes

Several brokerages recently issued reports on M. New Street Research set a $13.00 target price on shares of Macy's in a research report on Thursday, March 6th. Morgan Stanley set a $14.00 price objective on Macy's in a report on Monday, March 10th. Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group reduced 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $15.30.

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.