Legal & General Group Plc Has $11.26 Million Position in Macy's, Inc. (NYSE:M)

Legal & General Group Plc trimmed its holdings in Macy's, Inc. (NYSE:M - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 664,937 shares of the company's stock after selling 34,853 shares during the period. Legal & General Group Plc owned about 0.24% of Macy's worth $11,257,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Macy's by 4.9% during the fourth quarter. Bank of Montreal Can now owns 56,521 shares of the company's stock valued at $957,000 after purchasing an additional 2,641 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Macy's during the 4th quarter valued at about $184,000. FMR LLC raised its stake in Macy's by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company's stock worth $127,038,000 after acquiring an additional 2,812,151 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Macy's during the fourth quarter worth about $119,000. Finally, ExodusPoint Capital Management LP lifted its holdings in Macy's by 229.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 401,141 shares of the company's stock worth $6,791,000 after acquiring an additional 279,394 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Adrian V. Mitchell sold 3,489 shares of Macy's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tracy M. Preston sold 2,780 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the sale, the executive vice president now directly owns 4,723 shares of the company's stock, valued at approximately $59,887.64. This represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,751 shares of company stock worth $537,790. Corporate insiders own 2.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. UBS Group dropped their price target on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 7th. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Cowen reissued a "hold" rating on shares of Macy's in a report on Friday, March 7th. New Street Research set a $13.00 price target on shares of Macy's in a research report on Thursday, March 6th. Finally, Citigroup cut their price objective on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.40.

Macy's Price Performance

Shares of Macy's stock traded up $0.10 on Tuesday, hitting $10.86. The company had a trading volume of 5,081,946 shares, compared to its average volume of 6,187,581. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70. 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 cap of $3.03 billion, a PE ratio of 18.41 and a beta of 1.73. The business has a 50-day simple moving average of $13.03 and a 200-day simple moving average of $14.77.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Research analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 6.72%. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Macy's's dividend payout ratio is presently 35.44%.

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.