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

Schonfeld Strategic Advisors LLC lessened its position in shares of Macy’s, Inc. (NYSE:M) by 74.6% in the fourth quarter, Holdings Channel reports. 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of M. Northern Trust Corp grew its position in shares of Macy’s by 33.8% during the fourth quarter. Northern Trust Corp now owns 2,707,349 shares of the company’s stock worth $45,835,000 after purchasing an additional 684,602 shares in the last quarter. Barington Capital Group L.P. lifted its stake in shares of Macy’s by 84.6% during the 4th quarter. Barington Capital Group L.P. now owns 1,200,000 shares of the company’s stock worth $20,316,000 after acquiring an additional 550,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Macy’s during the fourth quarter valued at $8,760,000. Coldstream Capital Management Inc. increased its stake in shares of Macy’s by 4.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company’s stock valued at $261,000 after buying an additional 717 shares during the period. Finally, Credit Industriel ET Commercial purchased a new position in Macy’s in the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on M. Benchmark upgraded Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group downgraded Macy’s from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup cut their price objective on Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Macy’s Stock Down 1.1%

Shares of NYSE:M opened at $11.66 on Monday. Macy’s, Inc. has a 52-week low of $9.76 and a 52-week high of $20.70. The business has a fifty day moving average of $12.19 and a two-hundred day moving average of $14.39. The stock has a market cap of $3.25 billion, a P/E ratio of 19.76 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.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) 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 analyst estimates of $7.76 billion. On average, research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.1824 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 6.26%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 35.44%.

Insider Buying and Selling at Macy’s

In other news, EVP Tracy M. Preston sold 2,780 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the transaction, the executive vice president now owns 4,723 shares in the company, valued at approximately $59,887.64. This represents a 37.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Antony Spring sold 20,868 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 value of $264,606.24. Following the completion of the transaction, the chief executive officer now owns 321,244 shares in the company, valued at approximately $4,073,373.92. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $537,790 in the last quarter. Corporate 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.