Fieldview Capital Management LLC Decreases Holdings in Macy's, Inc. $M

Key Points

• Fieldview Capital cut its Macy's stake by 29.8% in Q3, selling 112,286 shares and ending the period with 264,397 shares worth about $4.74 million, while institutional investors now own roughly 87.36% of Macy's and several large funds (Norges Bank, Schroder, Invesco, Arrowstreet, Hennessy) increased or initiated positions.
• Macy's raised its quarterly dividend to $0.1915 per share (from $0.18), an annualized $0.77 payout with a ~4.2% yield; the ex-dividend date is March 13 and the dividend is payable April 1.
• The Wall Street consensus is a Reduce with a $21.33 price target; among analysts covering the stock there is 1 Buy, 11 Hold and 2 Sell, though several firms recently raised price targets (e.g., Goldman Sachs to $22, Evercore to $21, Telsey to $25).

Fieldview Capital Management LLC decreased its holdings in Macy's, Inc. (NYSE:M - Free Report) by 29.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 264,397 shares of the company's stock after selling 112,286 shares during the period. Macy's makes up about 0.8% of Fieldview Capital Management LLC's holdings, making the stock its 22nd biggest holding. Fieldview Capital Management LLC owned approximately 0.10% of Macy's worth $4,741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Macy's in the second quarter worth $58,743,000. Schroder Investment Management Group grew its stake in shares of Macy's by 104.5% during the second quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company's stock valued at $112,260,000 after buying an additional 4,920,821 shares during the last quarter. Invesco Ltd. increased its holdings 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. Hennessy Advisors Inc. bought a new stake in shares of Macy's in the 3rd quarter valued at about $44,362,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Macy's by 107.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,253,538 shares of the company's stock worth $49,596,000 after acquiring an additional 2,203,874 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Macy's Price Performance

Shares of M stock opened at $18.27 on Monday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 10.81 and a beta of 1.51. The business's fifty day moving average is $21.27 and its 200 day moving average is $19.85. Macy's, Inc. has a twelve month low of $9.76 and a twelve month high of $24.41. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56.

Macy's Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.1915 per share. The ex-dividend date of this dividend is Friday, March 13th. This is an increase 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 presently 43.20%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Macy's from $16.50 to $22.00 and gave the company a "neutral" rating in a research report on Friday, December 5th. TD Cowen reaffirmed a "hold" rating on shares of Macy's in a research note on Thursday, December 4th. Evercore upped their price target on shares of Macy's from $14.00 to $21.00 and gave the company a "cautious" rating in a report on Friday, December 5th. Telsey Advisory Group increased their price target on shares of Macy's from $22.00 to $25.00 and gave the company a "market perform" rating in a research report on Thursday, December 4th. Finally, Wall Street Zen lowered shares of Macy's from a "strong-buy" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $21.33.

Insiders Place Their Bets

In other Macy's news, EVP Danielle L. Kirgan sold 85,000 shares of the company's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $23.92, for a total value of $2,033,200.00. Following the sale, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.77% 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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