Vanguard Group Inc. Sells 1,411,965 Shares of Macy’s, Inc. (NYSE:M)

Vanguard Group Inc. lessened its holdings in shares of Macy’s, Inc. (NYSE:M) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,969,639 shares of the company’s stock after selling 1,411,965 shares during the quarter. Vanguard Group Inc. owned 12.76% of Macy’s worth $703,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Glassman Wealth Services grew its stake in shares of 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 acquiring an additional 743 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Macy’s in the 4th quarter worth $50,000. Covestor Ltd grew its stake in shares of Macy’s by 25.5% in the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock worth $55,000 after acquiring an additional 969 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Macy’s by 1,166.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock worth $55,000 after acquiring an additional 2,532 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Macy’s in a research report on Wednesday, June 19th. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their price target 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. Morgan Stanley reduced their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price target 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. Finally, TD Cowen increased their price target 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s has a consensus rating of “Hold” and a consensus target price of $17.70.

Macy’s Price Performance

NYSE M opened at $18.30 on Monday. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a market cap of $5.06 billion, a PE ratio of 610.00 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. The firm’s 50-day simple moving average is $19.06 and its two-hundred day simple moving average is $19.28.

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

Macy’s Dividend Announcement

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

Insider Transactions at Macy’s

In related news, CFO Adrian V. Mitchell sold 13,279 shares of the firm’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 value of $260,666.77. Following the sale, the chief financial officer now directly owns 120,457 shares of the company’s stock, valued at $2,364,570.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $591,569.40. Following the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adrian V. Mitchell sold 13,279 shares of the firm’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 $2,364,570.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,430 shares of company stock valued at $1,285,499. 2.77% of the stock is currently owned by corporate insiders.

About Macy’s

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.