Point72 Hong Kong Ltd Sells 23,350 Shares of Macy's, Inc. (NYSE:M)

Point72 Hong Kong Ltd reduced its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 84.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,312 shares of the company's stock after selling 23,350 shares during the quarter. Point72 Hong Kong Ltd's holdings in Macy's were worth $73,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC bought a new position in Macy's during the fourth quarter worth $34,000. Jones Financial Companies Lllp boosted its holdings in shares of Macy's by 82.1% during the fourth 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 shares of Macy's during the fourth quarter worth approximately $38,000. Bessemer Group Inc. lifted its holdings 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 purchasing an additional 2,839 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in Macy's in the 4th quarter valued at $102,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Insiders Place Their Bets

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of Macy'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 value of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. The trade was a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 20,868 shares of Macy's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the sale, the chief executive officer now owns 321,244 shares of the company's stock, valued at $4,073,373.92. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. 1.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

M has been the topic of a number of analyst reports. Gordon Haskett downgraded Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Telsey Advisory Group restated a "market perform" rating and issued a $15.00 price target on shares of Macy's in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price objective 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. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Barclays began coverage on shares of Macy's in a research report on Monday, April 28th. They set a "cautious" rating and a $12.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.00.

Macy's Price Performance

Shares of M traded down $0.46 during trading hours on Wednesday, reaching $11.64. The stock had a trading volume of 5,821,279 shares, compared to its average volume of 6,308,919. The stock has a market capitalization of $3.24 billion, a PE ratio of 19.72 and a beta of 1.77. Macy's, Inc. has a 12 month low of $9.76 and a 12 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. The company's 50-day moving average is $11.97 and its two-hundred day moving average is $14.24.

Macy's (NYSE:M - Get Free Report) last released its quarterly 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 company had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. Research analysts expect that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.1824 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.27%. Macy's's payout ratio is 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.