Wells Fargo & Company MN Reduces Holdings in Macy's, Inc. (NYSE:M)

Wells Fargo & Company MN decreased its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 63.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,210 shares of the company's stock after selling 82,936 shares during the quarter. Wells Fargo & Company MN's holdings in Macy's were worth $816,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Macy's during the 3rd quarter worth approximately $594,000. HB Wealth Management LLC grew its holdings in Macy's by 724.1% in the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock valued at $1,754,000 after purchasing an additional 91,015 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Macy's by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after purchasing an additional 286,879 shares during the last quarter. SG Americas Securities LLC grew its holdings in Macy's by 1,076.9% in the fourth quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock valued at $3,027,000 after purchasing an additional 163,587 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Macy's by 155.8% in the fourth quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company's stock valued at $1,381,000 after purchasing an additional 49,715 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Gordon Haskett lowered Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. Morgan Stanley set a $14.00 price objective on Macy's in a research note on Monday, March 10th. The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Benchmark raised Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $15.00 price objective on shares of Macy's in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $14.18.

Macy's Price Performance

Shares of M opened at $11.45 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 19.41 and a beta of 1.73. Macy's, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70. The stock has a 50 day moving average of $12.54 and a 200-day moving average of $14.60.

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

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.37%. 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 dividend payout ratio is 35.44%.

Insiders Place Their Bets

In related news, EVP Adrian V. Mitchell sold 5,122 shares of Macy's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $65,407.94. Following the sale, the executive vice president now directly owns 130,491 shares in the company, valued at $1,666,370.07. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of Macy'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 in the company, valued at approximately $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. Over the last three months, insiders have sold 41,751 shares of company stock valued at $537,790. Company insiders own 2.77% of the company's stock.

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.

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