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

Wellington Management Group LLP reduced its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 97.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,637 shares of the company's stock after selling 2,004,365 shares during the quarter. Wellington Management Group LLP's holdings in Macy's were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in Macy's by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock valued at $120,832,000 after buying an additional 774,693 shares during the last quarter. Norges Bank bought a new position in shares of Macy's during the 4th quarter valued at approximately $96,689,000. Geode Capital Management LLC grew its holdings in shares of Macy's by 2.6% in the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company's stock valued at $79,110,000 after purchasing an additional 128,258 shares in the last quarter. Allianz Asset Management GmbH increased its position in Macy's by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company's stock worth $59,461,000 after purchasing an additional 411,412 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Macy's by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock valued at $56,116,000 after purchasing an additional 419,261 shares in the last quarter. Institutional investors own 87.36% of the company's stock.

Macy's Trading Up 1.0 %

Shares of NYSE M traded up $0.12 during mid-day trading on Friday, reaching $11.13. The company had a trading volume of 5,510,570 shares, compared to its average volume of 6,189,274. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70. The business's 50-day moving average is $13.19 and its 200-day moving average is $14.84. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 18.86 and a beta of 1.73. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $7.76 billion. Equities 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 6.56%. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio (DPR) is currently 35.44%.

Insider Buying and Selling

In related news, EVP Tracy M. Preston sold 2,780 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company's stock, valued at $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of Macy's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the transaction, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This trade represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 over the last three months. 2.77% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on M shares. Benchmark upgraded shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Gordon Haskett downgraded Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. New Street Research set a $13.00 target price on Macy's in a report on Thursday, March 6th. Morgan Stanley set a $14.00 target price on Macy's in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lowered their price target on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.90.

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.