118,797 Shares in Macy's, Inc. $M Bought by Decker Retirement Planning Inc.

Key Points

• Decker Retirement Planning initiated a new position in Macy's of 118,797 shares (~$2.62M) in Q4, equal to about 1.3% of its portfolio and the fund's 29th-largest holding.
• Insider sales: CEO Antony Spring sold 50,044 shares (and EVP Tracy Preston sold 5,271) to cover tax withholding; insiders have sold 94,967 shares (~$1.71M) in the last 90 days and own 1.05% of the company.
• Analyst and company outlook: Macy's carries an average analyst rating of "Reduce" with a $18.90 target, even as the company recently beat EPS estimates and raised its quarterly dividend to an annualized yield of about 4.0%.

Decker Retirement Planning Inc. bought a new position in Macy's, Inc. (NYSE:M - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 118,797 shares of the company's stock, valued at approximately $2,619,000. Macy's comprises about 1.3% of Decker Retirement Planning Inc.'s portfolio, making the stock its 29th biggest position.

A number of other hedge funds have also modified their holdings of M. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Macy's by 38.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company's stock worth $2,047,000 after acquiring an additional 45,149 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Macy's by 5.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company's stock worth $14,019,000 after acquiring an additional 55,821 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Macy's by 33.1% in the first quarter. Focus Partners Wealth now owns 58,197 shares of the company's stock worth $731,000 after buying an additional 14,489 shares during the period. Cetera Investment Advisers boosted its position in shares of Macy's by 49.6% in the second quarter. Cetera Investment Advisers now owns 24,300 shares of the company's stock worth $283,000 after buying an additional 8,053 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Macy's by 160.5% in the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company's stock worth $49,941,000 after buying an additional 2,639,132 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Macy's

In related news, CEO Antony Spring sold 50,044 shares of Macy's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the sale, the chief executive officer owned 485,791 shares of the company's stock, valued at approximately $8,705,374.72. This trade represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the business's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $94,456.32. Following the completion of the sale, the executive vice president directly owned 28,773 shares of the company's stock, valued at $515,612.16. This represents a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 94,967 shares of company stock worth $1,705,276 in the last ninety days. Company insiders own 1.05% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on M shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $20.00 target price on shares of Macy's in a research report on Wednesday, April 1st. Zacks Research cut Macy's from a "hold" rating to a "strong sell" rating in a research report on Friday, March 13th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $22.00 target price on shares of Macy's in a research report on Wednesday, March 18th. UBS Group raised their target price on Macy's from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Monday, March 9th. Finally, Citigroup decreased their target price on Macy's from $24.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Macy's presently has an average rating of "Reduce" and an average price target of $18.90.

Macy's Price Performance

M opened at $19.09 on Wednesday. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 8.23 and a beta of 1.51. Macy's, Inc. has a 1 year low of $10.54 and a 1 year high of $24.41. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $19.35 and a 200 day moving average price of $20.25.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.12. The firm had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.48 billion. Macy's had a return on equity of 14.22% and a net margin of 2.84%.The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share. Analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a dividend of $0.1915 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Macy's's previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.0%. Macy's's payout ratio is 33.19%.

Macy's Company Profile

Macy's, Inc is a leading American omnichannel retailer operating under the Macy's brand, as well as specialty divisions Bloomingdale's and Bluemercury. The company's retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy's seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company's product assortment spans men's, women's and children's clothing, beauty and personal care products, housewares and home décor.

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