Geode Capital Management LLC lowered its holdings in shares of Macy's Inc (NYSE:M) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,020,405 shares of the company’s stock after selling 327,281 shares during the quarter. Geode Capital Management LLC’s holdings in Macy's were worth $101,104,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Macy's during the 4th quarter valued at $104,000. SeaCrest Wealth Management LLC bought a new position in Macy's in the 4th quarter worth $119,000. Cerebellum GP LLC bought a new position in Macy's in the 4th quarter worth $127,000. Enterprise Financial Services Corp raised its holdings in Macy's by 102.4% in the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock worth $135,000 after acquiring an additional 2,706 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Macy's by 60.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,046 shares of the company’s stock worth $203,000 after acquiring an additional 3,045 shares during the period. Institutional investors and hedge funds own 86.95% of the company’s stock.
Shares of Macy's Inc (M) opened at $28.88 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.47 and a debt-to-equity ratio of 1.04. The stock has a market cap of $8,802.62, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 0.94 and a beta of 0.79. Macy's Inc has a 12-month low of $17.41 and a 12-month high of $31.97.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a $0.3775 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.51 annualized dividend and a yield of 5.23%. Macy's’s dividend payout ratio is 29.96%.
In other news, CFO Karen M. Hoguet sold 67,515 shares of Macy's stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the sale, the chief financial officer now directly owns 67,515 shares in the company, valued at approximately $1,984,265.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marna C. Whittington sold 20,000 shares of Macy's stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the sale, the director now owns 54,834 shares in the company, valued at $1,661,470.20. The disclosure for this sale can be found here. Insiders sold a total of 106,607 shares of company stock worth $3,150,407 over the last 90 days. Company insiders own 1.40% of the company’s stock.
Several research analysts recently commented on the stock. ValuEngine upgraded shares of Macy's from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BMO Capital Markets lifted their target price on shares of Macy's from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, March 1st. Gordon Haskett upgraded shares of Macy's from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Thursday, March 1st. Morgan Stanley lifted their target price on shares of Macy's from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Finally, Jefferies Group reiterated a “hold” rating on shares of Macy's in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $26.33.
Macy's Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy's Inc (NYSE:M).
Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.