Ameriprise Financial Inc. Lowers Position in Macy's, Inc. (NYSE:M)

Ameriprise Financial Inc. cut its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,345,227 shares of the company's stock after selling 155,619 shares during the quarter. Ameriprise Financial Inc. owned about 0.48% of Macy's worth $22,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Macy's during the 4th quarter valued at approximately $96,689,000. FMR LLC raised its holdings in shares of Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after acquiring an additional 2,812,151 shares in the last quarter. Marshall Wace LLP lifted its position in Macy's by 1,230.8% during the fourth quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock valued at $40,415,000 after purchasing an additional 2,207,809 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after purchasing an additional 1,627,572 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Macy's by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. UBS Group lowered their target price on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 7th. New Street Research set a $13.00 target price on shares of Macy's in a report on Thursday, March 6th. Telsey Advisory Group reissued a "market perform" rating and issued a $15.00 target price on shares of Macy's in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and decreased their price target for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Macy's currently has an average rating of "Hold" and a consensus target price of $14.00.

Insider Activity

In other news, CEO Antony Spring sold 4,582 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $58,512.14. Following the transaction, the chief executive officer now directly owns 288,961 shares in the company, valued at approximately $3,690,031.97. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares of the company's stock, valued at approximately $1,596,107.10. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock worth $537,790 in the last three months. 1.09% of the stock is owned by insiders.

Macy's Stock Up 3.6%

Macy's stock traded up $0.44 during midday trading on Tuesday, hitting $12.46. 978,763 shares of the company were exchanged, compared to its average volume of 6,337,446. The company's fifty day moving average price is $12.00 and its 200-day moving average price is $14.25. The company has a market cap of $3.47 billion, a PE ratio of 21.01 and a beta of 1.77. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. On average, research analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.1824 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.86%. Macy's's dividend payout ratio (DPR) is 35.44%.

Macy's Company Profile

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.