AQR Capital Management LLC Reduces Stock Holdings in Macy’s, Inc. (NYSE:M)

AQR Capital Management LLC decreased its position in shares of Macy’s, Inc. (NYSE:M) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,389,582 shares of the company’s stock after selling 351,524 shares during the quarter. AQR Capital Management LLC owned approximately 0.86% of Macy’s worth $45,068,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in M. Marshall Wace LLP raised its position in Macy’s by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock worth $67,871,000 after buying an additional 3,319,337 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after acquiring an additional 1,379,476 shares during the period. Invenomic Capital Management LP purchased a new position in Macy’s during the fourth quarter worth about $19,372,000. Hsbc Holdings PLC raised its holdings in Macy’s by 1,044.1% during the fourth quarter. Hsbc Holdings PLC now owns 906,708 shares of the company’s stock worth $18,331,000 after purchasing an additional 827,456 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Macy’s by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after purchasing an additional 747,542 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com started coverage on Macy’s in a research note on Monday, September 23rd. They set a “hold” rating for the company. Evercore ISI cut their price objective on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley reduced their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.43.

Macy’s Stock Up 0.3 %

M opened at $15.25 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 508.33 and a beta of 2.11. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The business’s fifty day moving average is $15.74 and its two-hundred day moving average is $17.95.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping 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 previous year, the firm earned $0.26 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts anticipate that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.56%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Insider Buying and Selling

In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was 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 $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction dated 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 directly owns 267,265 shares in the company, valued at $5,067,344.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the business’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 $457,827.12. Following the completion of the transaction, 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. Insiders sold 44,665 shares of company stock worth $842,372 in the last ninety days. 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.