Macy's, Inc. (NYSE:M) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Macy's, Inc. by 1.7%, now holding 31,955,128 shares worth approximately $401 million.
• Analysts have mixed views on Macy's, with Barclays and Goldman Sachs issuing cautious ratings and a $12 price target, while the stock receives an average rating of "Hold" from analysts.
• Macy's reported earnings of $0.16 per share for the latest quarter, beating expectations, but its revenue declined by 5.1% year-over-year.

Vanguard Group Inc. trimmed its position in Macy's, Inc. (NYSE:M - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,955,128 shares of the company's stock after selling 552,761 shares during the period. Vanguard Group Inc. owned about 11.47% of Macy's worth $401,356,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Macy's during the first quarter worth $301,000. Factorial Partners LLC increased its stake in Macy's by 0.9% in the first quarter. Factorial Partners LLC now owns 111,000 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Macy's by 6.2% during the first quarter. PNC Financial Services Group Inc. now owns 25,399 shares of the company's stock worth $319,000 after buying an additional 1,491 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Macy's by 6.7% in the first quarter. US Bancorp DE now owns 19,624 shares of the company's stock valued at $246,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Macy's during the first quarter worth approximately $720,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Performance

Macy's stock traded down $0.15 during trading hours on Friday, hitting $12.81. 4,758,826 shares of the stock traded hands, compared to its average volume of 7,461,788. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 6.50 and a beta of 1.79. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $18.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. The firm's 50 day moving average price is $12.18 and its 200-day moving average price is $12.56.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy's had a return on equity of 16.34% and a net margin of 2.45%. The company's quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, equities analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on M shares. Telsey Advisory Group dropped 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 research report on Thursday, May 29th. Morgan Stanley reissued a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Citigroup reissued a "neutral" rating and issued a $12.00 target price (up from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Finally, Barclays initiated coverage on Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $13.22.

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.