Oregon Public Employees Retirement Fund Sells 10,600 Shares of Macy’s, Inc. (NYSE:M)

Oregon Public Employees Retirement Fund trimmed its holdings in Macy’s, Inc. (NYSE:M) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,107 shares of the company’s stock after selling 10,600 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Macy’s were worth $1,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Macy’s in the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new position in Macy’s in the 1st quarter worth approximately $42,000. Future Financial Wealth Managment LLC bought a new position in shares of Macy’s during the 1st quarter valued at approximately $50,000. EntryPoint Capital LLC bought a new position in shares of Macy’s during the 1st quarter valued at approximately $51,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Macy’s by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 2,600 shares of the company’s stock valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Stock Down 0.7 %

NYSE M opened at $14.52 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $16.58 and a two-hundred day moving average of $18.40. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 483.83 and a beta of 2.11. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, analysts predict that Macy’s, Inc. will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.79%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on M shares. JPMorgan Chase & Co. raised their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. TD Cowen raised their target price on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. StockNews.com started coverage on shares of Macy’s in a report on Saturday. They issued a “hold” rating for the company. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Finally, Evercore ISI cut their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.50.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the sale, the executive vice president now directly owns 348,000 shares in the company, valued at $6,598,080. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Antony Spring sold 18,981 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,665 shares of company stock worth $842,372. 2.77% of the stock is currently owned by insiders.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.