Macy's, Inc. (NYSE:M) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in Macy's, Inc. (NYSE:M - Free Report) by 88.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,364 shares of the company's stock after selling 134,081 shares during the quarter. Teacher Retirement System of Texas' holdings in Macy's were worth $294,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC bought a new position in shares of Macy's in the fourth quarter worth about $34,000. Jones Financial Companies Lllp raised its stake in Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC purchased a new position in Macy's during the fourth quarter valued at approximately $38,000. Tompkins Financial Corp bought a new position in shares of Macy's in the fourth quarter worth approximately $102,000. Finally, Vestcor Inc bought a new position in shares of Macy's in the fourth quarter worth approximately $115,000. 87.36% of the stock is currently owned by institutional investors.

Macy's Trading Down 0.5 %

Shares of NYSE:M traded down $0.06 during trading on Friday, hitting $11.36. The company had a trading volume of 14,090,949 shares, compared to its average volume of 6,114,094. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 19.25 and a beta of 2.07. 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 fifty day simple moving average of $14.15 and a two-hundred day simple moving average of $15.19. Macy's, Inc. has a one year low of $10.77 and a one year high of $20.70.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.76 billion. As a group, equities analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.1824 dividend. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend was Friday, March 14th. Macy's's dividend payout ratio is currently 35.44%.

Insider Activity

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the transaction, the executive vice president now directly owns 4,723 shares in the company, valued at $59,887.64. This represents a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Antony Spring sold 3,124 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 transaction of $42,923.76. Following the completion of the sale, the chief executive officer now owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,751 shares of company stock valued at $537,790. Corporate insiders own 2.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. UBS Group dropped their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 7th. Telsey Advisory Group reissued a "market perform" rating and set a $15.00 target price on shares of Macy's in a research note on Wednesday. Morgan Stanley set a $14.00 price target on Macy's in a report on Monday, March 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $15.30.

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.