Wellington Management Group LLP Sells 81,133 Shares of Macy’s, Inc. (NYSE:M)

Wellington Management Group LLP trimmed its position in shares of Macy’s, Inc. (NYSE:M) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,774,233 shares of the company’s stock after selling 81,133 shares during the period. Wellington Management Group LLP owned about 0.65% of Macy’s worth $35,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rafferty Asset Management LLC increased its position in shares of Macy’s by 7.6% during the third quarter. Rafferty Asset Management LLC now owns 38,304 shares of the company’s stock valued at $445,000 after buying an additional 2,698 shares during the period. Invesco Ltd. increased its position in shares of Macy’s by 8.7% during the third quarter. Invesco Ltd. now owns 1,504,595 shares of the company’s stock valued at $17,468,000 after buying an additional 120,954 shares during the period. Rathbones Group PLC purchased a new position in shares of Macy’s during the third quarter valued at about $163,000. Clearbridge Investments LLC increased its position in shares of Macy’s by 31.4% during the third quarter. Clearbridge Investments LLC now owns 125,251 shares of the company’s stock valued at $1,454,000 after buying an additional 29,900 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Macy’s during the third quarter valued at about $2,156,000. 87.36% of the stock is owned by institutional investors.

Macy’s Stock Performance

Shares of M stock opened at $18.30 on Monday. 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 company has a 50 day moving average price of $19.06 and a 200-day moving average price of $19.28. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The firm has a market capitalization of $5.06 billion, a PE ratio of 610.00 and a beta of 2.16.

Macy’s (NYSE:M) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. As a group, equities research analysts expect that Macy’s, Inc. will post 2.79 earnings per share for the current year.

Macy’s Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Macy’s in a research report on Wednesday, June 19th. They set a “hold” rating on the stock. TD Cowen upped their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. The Goldman Sachs Group upped their price objective on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Morgan Stanley cut their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.70.

Insider Activity at Macy’s

In other Macy’s news, CEO Antony Spring sold 14,859 shares of the company’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 $291,682.17. Following the completion of the sale, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Macy’s news, EVP Danielle L. Kirgan sold 6,680 shares of the company’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 transaction of $131,328.80. Following the completion of the sale, the executive vice president now directly owns 324,635 shares of the company’s stock, valued at $6,382,324.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Antony Spring sold 14,859 shares of the company’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 $291,682.17. Following the sale, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The disclosure for this sale can be found here. Insiders have sold a total of 65,430 shares of company stock worth $1,285,499 over the last quarter. Company insiders own 2.77% of the company’s stock.

Macy’s 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.