Schonfeld Strategic Advisors LLC Sells 74,835 Shares of Macy's, Inc. (NYSE:M)

Schonfeld Strategic Advisors LLC cut its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 74.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,500 shares of the company's stock after selling 74,835 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Macy's were worth $432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in M. Norges Bank acquired a new position in shares of Macy's during the fourth quarter valued at $96,689,000. FMR LLC lifted its position in 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 last quarter. Marshall Wace LLP boosted its stake in Macy's by 1,230.8% during the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company's stock valued at $40,415,000 after purchasing an additional 2,207,809 shares during the period. Cooper Creek Partners Management LLC grew its position in 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 worth $132,701,000 after purchasing an additional 1,627,572 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Macy's by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Macy's

In other news, EVP Adrian V. Mitchell sold 3,489 shares of Macy's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antony Spring sold 3,124 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares of the company's stock, valued at $3,746,623.20. This represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock valued at $537,790 in the last three months. 1.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on M shares. Cowen reiterated a "hold" rating on shares of Macy's in a research report on Friday, March 7th. New Street Research set a $13.00 price target on Macy's in a research report on Thursday, March 6th. Telsey Advisory Group reissued a "market perform" rating and issued a $15.00 price target on shares of Macy's in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price objective on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Macy's currently has a consensus rating of "Hold" and an average target price of $14.00.

Macy's Price Performance

Macy's stock traded down $0.33 during mid-day trading on Wednesday, hitting $12.09. The company's stock had a trading volume of 5,428,593 shares, compared to its average volume of 6,331,567. The stock has a market capitalization of $3.37 billion, a P/E ratio of 20.49 and a beta of 1.77. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock's fifty day moving average price is $12.15 and its two-hundred day moving average price is $14.35. Macy's, Inc. has a twelve month low of $9.76 and a twelve month high of $20.70.

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

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 6.03%. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's payout ratio is presently 35.44%.

About Macy's

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.