LSV Asset Management Decreases Position in Macy’s, Inc. (NYSE:M)

LSV Asset Management lowered its position in Macy’s, Inc. (NYSE:M) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,659,945 shares of the company’s stock after selling 507,200 shares during the quarter. LSV Asset Management’s holdings in Macy’s were worth $78,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its position in shares of Macy’s by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after purchasing an additional 2,812,151 shares during the last quarter. American Century Companies Inc. increased its position in Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after buying an additional 774,693 shares in the last quarter. Norges Bank acquired a new position in shares of Macy’s in the fourth quarter worth $96,689,000. Geode Capital Management LLC lifted its position in shares of Macy’s by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,059,725 shares of the company’s stock valued at $86,143,000 after acquiring an additional 35,935 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Macy’s by 13.3% during the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock valued at $59,461,000 after acquiring an additional 411,412 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on M. Morgan Stanley set a $14.00 target price on shares of Macy’s in a research note on Monday, March 10th. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price objective on shares of Macy’s in a research report on Wednesday, April 2nd. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Finally, Citigroup reduced their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average price target of $15.30.

Macy’s Trading Down 4.2 %

M stock opened at $11.38 on Friday. 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 company has a market cap of $3.17 billion, a price-to-earnings ratio of 19.28 and a beta of 1.73. The business has a fifty day simple moving average of $13.61 and a 200-day simple moving average of $15.01. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, equities research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 6.41%. 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 35.44%.

Insiders Place Their Bets

In other Macy’s news, EVP Adrian V. Mitchell sold 3,489 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at $1,596,107.10. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the sale, the chief executive officer now directly owns 321,244 shares of the company’s stock, valued at $4,073,373.92. The trade was a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock worth $537,790 over the last ninety days. 2.77% of the stock is owned by company insiders.

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.