United Services Automobile Association Buys 1,012 Shares of Macy’s, Inc. (NYSE:M)

United Services Automobile Association grew its position in shares of Macy’s, Inc. (NYSE:M) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,038 shares of the company’s stock after acquiring an additional 1,012 shares during the quarter. United Services Automobile Association’s holdings in Macy’s were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC grew its holdings in shares of Macy’s by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 17,847 shares of the company’s stock valued at $359,000 after acquiring an additional 603 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Macy’s by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,371,257 shares of the company’s stock valued at $47,710,000 after purchasing an additional 13,712 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Macy’s during the 4th quarter worth $59,000. Teacher Retirement System of Texas boosted its holdings in shares of Macy’s by 34.6% in the 4th quarter. Teacher Retirement System of Texas now owns 60,493 shares of the company’s stock worth $1,217,000 after buying an additional 15,566 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Macy’s during the fourth quarter valued at about $493,000. Institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on M. JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. TD Cowen increased their price objective on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Morgan Stanley lowered their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. StockNews.com began coverage on Macy’s in a research note on Saturday, September 7th. They set a “hold” rating for the company. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.50.

Insiders Place Their Bets

In related news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the transaction, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The disclosure for this sale can be found here. Insiders have sold 44,665 shares of company stock worth $842,372 in the last ninety days. 2.77% of the stock is currently owned by insiders.

Macy’s Stock Up 2.2 %

M stock opened at $14.63 on Thursday. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The firm has a market capitalization of $4.04 billion, a PE ratio of 487.50 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a 50-day simple moving average of $16.45 and a two-hundred day simple moving average of $18.34.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. Macy’s’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts predict that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s payout ratio is 2,300.00%.

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.