Macy's, Inc. (NYSE:M) Holdings Cut by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. decreased its stake in Macy's, Inc. (NYSE:M - Free Report) by 93.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC bought a new position in Macy's in the 4th quarter worth $34,000. Jones Financial Companies Lllp raised its holdings in Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC bought a new position in Macy's in the 4th quarter worth $38,000. Bessemer Group Inc. raised its holdings in Macy's by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after acquiring an additional 2,839 shares during the period. Finally, Vestcor Inc bought a new position in Macy's in the 4th quarter worth $115,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on M shares. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. UBS Group dropped their target price on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Telsey Advisory Group reiterated a "market perform" rating and issued a $15.00 target price on shares of Macy's in a report on Wednesday, April 2nd. Finally, Citigroup dropped their price objective on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Macy's presently has a consensus rating of "Hold" and an average price target of $14.00.

Insider Activity

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the transaction, the executive vice president now directly owns 4,723 shares in the company, valued at $59,887.64. The trade was a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. This trade represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock worth $537,790. Corporate insiders own 1.09% of the company's stock.

Macy's Stock Performance

NYSE:M opened at $12.01 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm's 50-day moving average is $12.00 and its 200-day moving average is $14.25. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $20.70. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 20.36 and a beta of 1.77.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share 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 for the quarter, compared to analyst estimates of $7.76 billion. Equities research analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Dividend Announcement

The firm 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 dividend of $0.1824 per share. The ex-dividend date is Friday, June 13th. This represents a $0.73 annualized dividend and a dividend yield of 6.07%. Macy's's dividend payout ratio (DPR) is currently 35.44%.

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.

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy's, Inc. (NYSE:M - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.