Focus Partners Wealth Sells 21,324 Shares of Macy's, Inc. (NYSE:M)

Focus Partners Wealth decreased its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 32.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,708 shares of the company's stock after selling 21,324 shares during the period. Focus Partners Wealth's holdings in Macy's were worth $740,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new position in shares of Macy's during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp increased its stake in Macy's by 82.1% during 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 period. Kestra Investment Management LLC purchased a new stake in Macy's during the 4th quarter worth $38,000. Bessemer Group Inc. increased its stake in Macy's by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after buying an additional 2,839 shares during the period. Finally, Vestcor Inc bought a new stake in shares of Macy's in the 4th quarter worth about $115,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy's Price Performance

Shares of NYSE:M traded down $0.34 during trading on Friday, reaching $11.58. The company had a trading volume of 6,889,520 shares, compared to its average volume of 6,314,460. The firm's fifty day moving average is $11.86 and its 200 day moving average is $14.16. The firm has a market capitalization of $3.23 billion, a PE ratio of 19.63 and a beta of 1.77. Macy's, Inc. has a twelve month low of $9.76 and a twelve month high of $20.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $7.76 billion. On average, equities analysts forecast that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.1824 per share. The ex-dividend date is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.30%. Macy's's dividend payout ratio is currently 35.44%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on M. Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Benchmark raised shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. UBS Group dropped their target price on shares of Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 7th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Barclays began coverage on shares of Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $13.30.

Insider Activity

In other Macy's news, CEO Antony Spring sold 3,124 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $42,923.76. Following the transaction, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. This represents a 1.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy M. Preston sold 2,780 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 $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares in the company, valued at approximately $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 over the last 90 days. 1.09% of the stock is owned by company insiders.

About Macy's

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.