Vanguard Group Inc. Cuts Position in Macy's, Inc. (NYSE:M)

Vanguard Group Inc. decreased its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC bought a new position in shares of Macy's during the 4th quarter worth $34,000. Quest Partners LLC bought a new position in Macy's during the 3rd quarter worth about $35,000. Jones Financial Companies Lllp increased 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 valued at $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Macy's in the 4th quarter valued at about $38,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Macy's in the 4th quarter worth approximately $102,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 4,723 shares of the company's stock, valued at approximately $59,887.64. The trade was a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Adrian V. Mitchell sold 5,122 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $65,407.94. Following the sale, the executive vice president now directly owns 130,491 shares in the company, valued at $1,666,370.07. The trade was 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 quarter. 2.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on M. Citigroup cut their price objective on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. UBS Group reduced their price target on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 7th. Benchmark upgraded Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. Finally, Morgan Stanley set a $14.00 price target 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.30.

Macy's Stock Performance

M stock traded down $0.06 during trading on Friday, reaching $11.36. The company had a trading volume of 14,090,949 shares, compared to its average volume of 6,114,094. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 19.25 and a beta of 2.07. Macy's, Inc. has a twelve month low of $10.77 and a twelve month high of $20.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm has a 50-day simple moving average of $14.15 and a 200-day simple moving average of $15.19.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. As a group, sell-side analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

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

Macy's Company 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.