Acadian Asset Management LLC Has $53,000 Stake in Macy’s, Inc. (NYSE:M)

Acadian Asset Management LLC decreased its position in shares of Macy’s, Inc. (NYSE:M) by 99.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,798 shares of the company’s stock after selling 271,364 shares during the period. Acadian Asset Management LLC’s holdings in Macy’s were worth $53,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in shares of Macy’s during the 1st quarter worth about $27,000. Fidelis Capital Partners LLC bought a new position in shares of Macy’s during the 1st quarter worth about $42,000. Future Financial Wealth Managment LLC bought a new position in shares of Macy’s during the 1st quarter worth about $50,000. EntryPoint Capital LLC bought a new position in shares of Macy’s during the 1st quarter worth about $51,000. Finally, Parallel Advisors LLC increased its holdings in shares of Macy’s by 81.4% during the 4th quarter. Parallel Advisors LLC now owns 3,019 shares of the company’s stock worth $61,000 after purchasing an additional 1,355 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on M shares. Evercore ISI lowered 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 note on Tuesday, July 16th. StockNews.com started coverage on shares of Macy’s in a research note on Sunday, September 15th. They issued a “hold” rating on the stock. Morgan Stanley lowered their target price on shares of 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.50.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the company’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 completion of the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,665 shares of company stock valued at $842,372. Corporate insiders own 2.77% of the company’s stock.

Macy’s Price Performance

Shares of M stock opened at $15.30 on Friday. The firm’s 50 day moving average is $15.90 and its 200-day moving average is $18.14. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 510.00 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.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $0.26 earnings per share. Macy’s’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s 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.