Point72 Asia Singapore Pte. Ltd. Has $26,000 Stock Holdings in Macy's, Inc. (NYSE:M)

Point72 Asia Singapore Pte. Ltd. cut its position in Macy's, Inc. (NYSE:M - Free Report) by 93.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,547 shares of the company's stock after selling 22,742 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Macy's were worth $26,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC lifted its position in Macy's by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company's stock valued at $220,000 after purchasing an additional 924 shares during the last quarter. Quantinno Capital Management LP lifted its position in Macy's by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company's stock valued at $1,736,000 after purchasing an additional 872 shares during the last quarter. Man Group plc acquired a new position in Macy's during the 4th quarter valued at about $5,087,000. Nuveen Asset Management LLC increased its stake in Macy's by 13.8% during the 4th quarter. Nuveen Asset Management LLC now owns 721,044 shares of the company's stock valued at $12,207,000 after buying an additional 87,315 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Macy's by 29.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,840 shares of the company's stock valued at $1,995,000 after buying an additional 27,156 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Macy's Price Performance

Shares of M traded down $0.34 during mid-day trading on Friday, hitting $11.58. The company's stock had a trading volume of 6,889,520 shares, compared to its average volume of 6,314,460. The firm has a 50-day moving average price of $11.86 and a 200 day moving average price of $14.14. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.63 and a beta of 1.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.70.

Macy's (NYSE:M - Get Free Report) last released 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 business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. On average, research analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's dividend payout ratio (DPR) is currently 35.44%.

Analyst Ratings Changes

Several equities analysts have commented on M shares. Citigroup lowered their target price on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Cowen reissued a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Morgan Stanley reissued a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.30.

Insider Transactions at Macy's

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the firm'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 transaction of $47,938.86. Following the completion of the sale, the executive vice president now directly owns 116,165 shares in the company, valued at approximately $1,596,107.10. This trade represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company's stock, valued at approximately $59,887.64. This represents a 37.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock valued at $537,790 over the last ninety days. Corporate insiders own 1.09% of the company's stock.

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.