Wellington Management Group LLP Reduces Position in Macy's, Inc. (NYSE:M)

Wellington Management Group LLP lowered its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 97.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trifecta Capital Advisors LLC purchased a new stake in Macy's in the fourth quarter worth approximately $34,000. Jones Financial Companies Lllp boosted its holdings in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Macy's in the fourth quarter worth approximately $38,000. Bessemer Group Inc. boosted its holdings in Macy's by 495.5% in the fourth 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, Raiffeisen Bank International AG purchased a new position in shares of Macy's during the 4th quarter worth $111,000. Institutional investors own 87.36% of the company's stock.

Insider Buying and Selling at Macy's

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $264,606.24. Following the completion of the sale, the chief executive officer now owns 321,244 shares in the company, valued at approximately $4,073,373.92. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. Insiders own 1.09% of the company's stock.

Macy's Price Performance

Shares of M stock traded up $0.36 on Friday, hitting $12.28. 5,096,540 shares of the stock traded hands, compared to its average volume of 6,477,583. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 20.81 and a beta of 1.74. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $20.47. The firm has a 50 day simple moving average of $11.57 and a two-hundred day simple moving average of $13.91. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The company's revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. As a group, equities research analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 5.94%. Macy's's dividend payout ratio is currently 37.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on M. UBS Group dropped their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 7th. Telsey Advisory Group dropped their price target on shares of Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, May 29th. The Goldman Sachs Group cut shares of 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 note on Tuesday, April 22nd. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Citigroup reiterated a "neutral" rating and set a $12.00 price target (up previously from $11.00) on shares of Macy's in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $13.20.

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.