Two Sigma Investments LP Trims Holdings in Macy's, Inc. (NYSE:M)

Two Sigma Investments LP decreased its stake in Macy's, Inc. (NYSE:M - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,158 shares of the company's stock after selling 365,370 shares during the period. Two Sigma Investments LP's holdings in Macy's were worth $2,322,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC bought a new stake in shares of Macy's in the fourth quarter valued at $34,000. Jones Financial Companies Lllp increased 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 last quarter. Kestra Investment Management LLC bought a new stake in Macy's in the 4th quarter valued at about $38,000. Bessemer Group Inc. raised its stake in Macy's by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock valued at $58,000 after acquiring an additional 2,839 shares during the period. Finally, Raiffeisen Bank International AG purchased a new stake in Macy's during the fourth quarter valued at about $111,000. Institutional investors own 87.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. New Street Research set a $13.00 price objective on Macy's in a report on Thursday, March 6th. Citigroup reiterated a "neutral" rating and set a $12.00 price target (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Barclays initiated coverage on shares of Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective for the company. Cowen reaffirmed a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Finally, Telsey Advisory Group decreased their target price on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.20.

Insider Buying and Selling

In other Macy's news, CEO Antony Spring sold 4,582 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $58,512.14. Following the completion of the transaction, the chief executive officer now directly owns 288,961 shares in the company, valued at approximately $3,690,031.97. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares of the company's stock, valued at approximately $1,596,107.10. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,751 shares of company stock worth $537,790. Insiders own 1.09% of the company's stock.

Macy's Stock Performance

Macy's stock traded down $0.03 during midday trading on Wednesday, hitting $11.46. The stock had a trading volume of 5,926,399 shares, compared to its average volume of 6,465,401. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $20.47. The company has a market capitalization of $3.19 billion, a PE ratio of 19.42 and a beta of 1.77. The firm's fifty day moving average is $11.59 and its two-hundred day moving average is $13.96. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.38 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. On average, research analysts forecast that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's dividend payout ratio is presently 37.06%.

Macy's 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.