Texas Permanent School Fund Corp Increases Stake in Macy’s, Inc. (NYSE:M)

Texas Permanent School Fund Corp grew its stake in shares of Macy’s, Inc. (NYSE:M) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,022 shares of the company’s stock after purchasing an additional 10,156 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Macy’s worth $4,800,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 18,981 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 transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at approximately $5,067,344.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Danielle L. Kirgan sold 24,147 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 $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Antony Spring sold 18,981 shares of Macy’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 $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at approximately $5,067,344.40. The disclosure for this sale can be found here. Insiders sold a total of 44,665 shares of company stock worth $842,372 over the last quarter. 2.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on M. JPMorgan Chase & Co. lifted their price objective on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. StockNews.com started coverage on Macy’s in a research note on Saturday, September 7th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Evercore ISI reduced their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Macy’s Trading Up 2.1 %

NYSE:M opened at $15.00 on Friday. The company has a market cap of $4.16 billion, a PE ratio of 500.00 and a beta of 2.11. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The company has a 50 day simple moving average of $16.29 and a two-hundred day simple moving average of $18.28. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10.

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

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, September 13th. Macy’s’s dividend payout ratio is presently 2,300.00%.

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.