Dimensional Fund Advisors LP Sells 97,866 Shares of Macy's, Inc. $M

Key Points

• Dimensional Fund Advisors trimmed its Macy's position by 0.6% in Q3, selling 97,866 shares and ending the period with 15,651,692 shares (about 5.83% of the company) valued at roughly $280.6 million.
• Macy's beat expectations for the quarter—$0.09 EPS vs. a ($0.13) consensus and $4.91B revenue vs. $4.52B—and raised its quarterly dividend to $0.1915 (annualized $0.77), implying a ~4.2% yield.
• Analyst sentiment is largely cautious: MarketBeat shows a consensus rating of "Reduce" with a $21.33 price target, though coverage varies from Buy to Sell among brokers.

Dimensional Fund Advisors LP trimmed its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,651,692 shares of the company's stock after selling 97,866 shares during the period. Dimensional Fund Advisors LP owned approximately 5.83% of Macy's worth $280,641,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of M. Cullen Frost Bankers Inc. acquired a new stake in shares of Macy's in the third quarter valued at approximately $31,000. Bessemer Group Inc. lifted its holdings in Macy's by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company's stock worth $37,000 after buying an additional 592 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Macy's by 101.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company's stock valued at $41,000 after buying an additional 1,162 shares during the last quarter. Quent Capital LLC bought a new position in Macy's in the 3rd quarter valued at $107,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Macy's by 71.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 6,362 shares of the company's stock valued at $115,000 after buying an additional 2,656 shares during the period. 87.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on M. Jefferies Financial Group started coverage on Macy's in a research note on Wednesday, January 14th. They set a "buy" rating and a $27.00 price target on the stock. Evercore lifted their price objective on Macy's from $14.00 to $21.00 and gave the stock a "cautious" rating in a research report on Friday, December 5th. UBS Group set a $21.00 price objective on Macy's in a report on Thursday, December 4th. Weiss Ratings restated a "hold (c)" rating on shares of Macy's in a research report on Monday, December 29th. Finally, Morgan Stanley raised their target price on shares of Macy's from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $21.33.

Macy's Stock Performance

M stock opened at $18.27 on Friday. The business's fifty day moving average is $21.27 and its 200-day moving average is $19.76. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.86 billion, a P/E ratio of 10.81 and a beta of 1.51. Macy's, Inc. has a twelve month low of $9.76 and a twelve month high of $24.41.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.22. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.52 billion. Macy's had a return on equity of 15.57% and a net margin of 2.10%.The firm's revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $0.04 EPS. Equities research analysts forecast that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.1915 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Macy's's previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.2%. Macy's's payout ratio is currently 43.20%.

Insider Transactions at Macy's

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business's stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the transaction, the executive vice president directly owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.09% of the company's stock.

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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