Wellington Management Group LLP Has $959,000 Stock Holdings in Macy's, Inc. (NYSE:M)

Wellington Management Group LLP reduced its stake in Macy's, Inc. (NYSE:M - Free Report) by 97.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,637 shares of the company's stock after selling 2,004,365 shares during the period. Wellington Management Group LLP's holdings in Macy's were worth $959,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised 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 increased its holdings in shares of Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after purchasing an additional 1,627,572 shares during the period. FMR LLC increased its holdings in shares of Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after purchasing an additional 2,812,151 shares during the period. American Century Companies Inc. lifted its position in shares of Macy's by 12.2% in the fourth 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 in the last quarter. Finally, Norges Bank acquired a new stake in shares of Macy's during the fourth quarter worth approximately $96,689,000. 87.36% of the stock is currently owned by institutional investors.

Macy's Stock Performance

Shares of NYSE:M traded up $0.13 during midday trading on Tuesday, hitting $12.38. The company's stock had a trading volume of 5,407,265 shares, compared to its average volume of 6,501,947. 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 stock's 50 day simple moving average is $11.57 and its 200 day simple moving average is $13.86. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 20.97 and a beta of 1.74. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.47.

Macy's (NYSE:M - Get Free Report) last issued 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. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the business posted $0.27 EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Announces Dividend

The business also recently disclosed 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. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's dividend payout ratio is currently 37.06%.

Wall Street Analyst Weigh In

A number of research firms recently commented on M. UBS Group dropped their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Morgan Stanley reissued a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Gordon Haskett downgraded shares of 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 shares of Macy's in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $13.20.

Insider Buying and Selling at Macy's

In other Macy's news, 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 sale, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares of the company's stock, valued at approximately $59,887.64. This represents a 37.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 in the last quarter. Corporate insiders own 1.09% of the company's stock.

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.