CastleKnight Management LP Trims Position in Macy's, Inc. (NYSE:M)

CastleKnight Management LP decreased its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 29.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,000 shares of the company's stock after selling 135,200 shares during the quarter. CastleKnight Management LP owned about 0.12% of Macy's worth $5,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of M. Coldstream Capital Management Inc. raised its holdings in shares of Macy's by 4.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company's stock worth $261,000 after acquiring an additional 717 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Macy's by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company's stock worth $2,039,000 after acquiring an additional 760 shares during the period. Arizona State Retirement System increased its stake in shares of Macy's by 1.2% in the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company's stock valued at $1,364,000 after acquiring an additional 958 shares in the last quarter. Pacer Advisors Inc. lifted its position in Macy's by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock valued at $700,000 after acquiring an additional 960 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after buying an additional 969 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy's Stock Down 1.0 %

Macy's stock opened at $11.84 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $20.70. The firm's fifty day simple moving average is $12.37 and its 200-day simple moving average is $14.50. The company has a market capitalization of $3.30 billion, a P/E ratio of 20.06 and a beta of 1.77.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. Sell-side analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.1824 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.16%. Macy's's dividend payout ratio (DPR) is currently 35.44%.

Insider Buying and Selling

In related news, CEO Antony Spring sold 20,868 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares in the company, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company's stock, valued at $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 valued at $537,790 in the last three months. Insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Benchmark upgraded shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. UBS Group cut their target price on shares of Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group lowered shares of Macy's from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.18.

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.

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