Voloridge Investment Management LLC Has $9.83 Million Stock Position in Macy's, Inc. (NYSE:M)

Voloridge Investment Management LLC reduced its position in Macy's, Inc. (NYSE:M - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 580,410 shares of the company's stock after selling 138,999 shares during the quarter. Voloridge Investment Management LLC owned about 0.21% of Macy's worth $9,826,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Macy's by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after buying an additional 1,149,454 shares during the period. Cooper Creek Partners Management LLC boosted its holdings in Macy's by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after acquiring an additional 1,627,572 shares in the last quarter. FMR LLC lifted its position in Macy's by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after buying an additional 2,812,151 shares during the period. American Century Companies Inc. raised its position in shares of Macy's by 12.2% in the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock worth $120,832,000 after purchasing an additional 774,693 shares during the last quarter. Finally, Norges Bank purchased a new position in Macy's in the 4th quarter worth about $96,689,000. 87.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Antony Spring sold 20,868 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares in the company, valued at approximately $4,073,373.92. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy M. Preston sold 2,780 shares of the 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 transaction, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,751 shares of company stock valued at $537,790. Corporate insiders own 2.77% of the company's stock.

Macy's Trading Up 1.0%

Macy's stock traded up $0.13 during trading on Friday, reaching $12.07. 2,807,412 shares of the company were exchanged, compared to its average volume of 6,416,755. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $20.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The company has a market capitalization of $3.36 billion, a P/E ratio of 20.50 and a beta of 1.77. The stock's 50 day simple moving average is $11.73 and its two-hundred day simple moving average is $14.06.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion during 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 company's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities research analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 6.05%. The ex-dividend date is Friday, June 13th. Macy's's payout ratio is currently 35.44%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on M shares. Cowen reiterated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Gordon Haskett lowered Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. The Goldman Sachs Group downgraded Macy's from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Finally, Morgan Stanley restated a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.20.

About Macy's

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.