Macy's, Inc. (NYSE:M) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its holdings in Macy's, Inc. (NYSE:M - Free Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,528,535 shares of the company's stock after selling 56,547 shares during the period. LSV Asset Management owned approximately 2.02% of Macy's worth $111,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of M. Lindbrook Capital LLC raised its stake in Macy's by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company's stock valued at $26,000 after purchasing an additional 944 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Macy's by 221.4% during the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company's stock valued at $41,000 after buying an additional 2,415 shares during the period. Fortitude Family Office LLC purchased a new stake in Macy's in the fourth quarter worth about $50,000. Covestor Ltd boosted its position in shares of Macy's by 25.5% during the third quarter. Covestor Ltd now owns 4,763 shares of the company's stock valued at $55,000 after purchasing an additional 969 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Macy's by 1,166.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company's stock worth $55,000 after buying an additional 2,532 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Macy's Stock Performance

Shares of M traded up $0.40 during mid-day trading on Friday, hitting $19.52. 4,302,393 shares of the company traded hands, compared to its average volume of 5,097,625. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. The stock has a 50-day moving average price of $19.57 and a two-hundred day moving average price of $17.75. Macy's, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 52.76 and a beta of 2.16.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.47. Macy's had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion during the quarter, compared to analysts' expectations of $8.07 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The firm's quarterly revenue was down 1.7% on a year-over-year basis. Equities analysts anticipate that Macy's, Inc. will post 2.57 earnings per share for the current year.

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, March 14th. Macy's's dividend payout ratio is currently 186.49%.

Insider Buying and Selling at Macy's

In other Macy's news, SVP Paul Griscom sold 2,969 shares of the company'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 transaction of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares of the company's stock, valued at $437,937.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Macy's news, SVP Paul Griscom sold 2,969 shares of the company'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 transaction, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Adrian V. Mitchell sold 13,249 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the transaction, the chief financial officer now owns 99,098 shares of the company's stock, valued at $2,023,581.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,424 shares of company stock valued at $4,405,507. Insiders own 1.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Macy's in a report on Thursday. They set a "hold" rating for the company. Morgan Stanley cut their target price on Macy's from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 28th. TD Cowen lowered Macy's from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Thursday, February 29th. Citigroup raised shares of Macy's from a "sell" rating to a "neutral" rating and increased their price objective for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Macy's from $16.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Macy's currently has a consensus rating of "Hold" and an average price target of $17.45.

About Macy's

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.