Teachers Retirement System of The State of Kentucky Sells 4,300 Shares of Macy’s, Inc. (NYSE:M)

Teachers Retirement System of The State of Kentucky lessened its position in Macy’s, Inc. (NYSE:M) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,534 shares of the company’s stock after selling 4,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Macy’s were worth $1,781,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its stake in Macy’s by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock worth $866,000 after buying an additional 554 shares during the period. Private Advisor Group LLC increased its stake in Macy’s by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock worth $359,000 after buying an additional 603 shares during the period. Glassman Wealth Services increased its stake in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Macy’s by 13.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock worth $139,000 after buying an additional 800 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Macy’s by 0.6% in the 4th quarter. Yousif Capital Management LLC now owns 140,135 shares of the company’s stock worth $2,820,000 after buying an additional 841 shares during the period. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Down 0.2 %

M stock opened at $18.29 on Friday. The firm has a 50 day moving average of $19.06 and a 200 day moving average of $19.24. The stock has a market capitalization of $5.06 billion, a PE ratio of 609.67 and a beta of 2.16. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10.

Macy’s (NYSE:M) last released its earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. Macy’s’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. Sell-side analysts forecast that Macy’s, Inc. will post 2.79 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley cut their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their target price on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. TD Cowen raised their target price on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.70.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 3,075 shares of Macy’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $62,361.00. Following the completion of the sale, the chief executive officer now directly owns 228,750 shares in the company, valued at approximately $4,639,050. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Macy’s news, CFO Adrian V. Mitchell sold 13,279 shares of Macy’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $260,666.77. Following the completion of the sale, the chief financial officer now directly owns 120,457 shares in the company, valued at approximately $2,364,570.91. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Antony Spring sold 3,075 shares of Macy’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $62,361.00. Following the sale, the chief executive officer now owns 228,750 shares of the company’s stock, valued at $4,639,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,165 shares of company stock worth $1,888,528. Company insiders own 2.77% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.