Allspring Global Investments Holdings LLC Has $179,000 Stock Position in Macy's, Inc. (NYSE:M)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 87.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,898 shares of the company's stock after selling 60,885 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Macy's were worth $179,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in M. Fifth Third Bancorp lifted its position in shares of Macy's by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company's stock worth $41,000 after buying an additional 2,415 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Macy's in the 4th quarter worth about $50,000. Covestor Ltd lifted its position in shares of Macy's by 25.5% in the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company's stock worth $55,000 after buying an additional 969 shares during the last quarter. CWM LLC lifted its position in shares of Macy's by 241.3% in the 3rd quarter. CWM LLC now owns 6,663 shares of the company's stock worth $77,000 after buying an additional 4,711 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Macy's by 1,906.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company's stock worth $84,000 after buying an additional 6,862 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Macy's news, SVP Paul Griscom sold 2,969 shares of Macy's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Paul Griscom sold 2,969 shares of Macy's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares of the company's stock, valued at $437,937.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Danielle L. Kirgan sold 15,070 shares of Macy's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $307,729.40. Following the completion of the transaction, the executive vice president now directly owns 306,555 shares in the company, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,424 shares of company stock worth $4,405,507. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Macy's from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, March 18th. The Goldman Sachs Group lifted their price objective on shares of Macy's from $16.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. StockNews.com assumed coverage on shares of Macy's in a research report on Wednesday, April 24th. They issued a "hold" rating on the stock. Citigroup upgraded shares of Macy's from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, TD Cowen downgraded shares of Macy's from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.45.

Macy's Price Performance

Shares of M traded up $0.14 during mid-day trading on Monday, hitting $18.57. The company's stock had a trading volume of 3,895,827 shares, compared to its average volume of 7,768,848. The firm has a 50-day moving average price of $19.61 and a 200 day moving average price of $17.62. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 50.18 and a beta of 2.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. Macy's, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10.

Macy's (NYSE:M - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Macy's had a net margin of 0.45% and a return on equity of 23.34%. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. On average, research analysts predict that Macy's, Inc. will post 2.57 EPS for the current fiscal year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.1737 per share. This is a boost from Macy's's previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, March 14th. Macy's's dividend payout ratio (DPR) is currently 186.49%.

Macy's Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.