Louisiana State Employees Retirement System Trims Position in Macy’s, Inc. (NYSE:M)

Louisiana State Employees Retirement System trimmed its position in Macy’s, Inc. (NYSE:M) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,800 shares of the company’s stock after selling 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Macy’s were worth $1,494,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Macy’s by 44.9% in the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after purchasing an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Macy’s by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after buying an additional 877 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Macy’s in the first quarter worth about $1,043,000. Invenomic Capital Management LP purchased a new position in shares of Macy’s during the 4th quarter valued at about $19,372,000. Finally, Atlas Capital Advisors LLC lifted its position in shares of Macy’s by 1,122.9% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock valued at $354,000 after buying an additional 16,248 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Price Performance

M stock opened at $15.96 on Monday. The stock has a market cap of $4.41 billion, a PE ratio of 532.00 and a beta of 2.18. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a 50-day moving average price of $17.33 and a 200 day moving average price of $18.71. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Macy’s, Inc. will post 2.79 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.35%. Macy’s’s dividend payout ratio is presently 2,300.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on M. StockNews.com initiated coverage on shares of Macy’s in a research note on Thursday. They set a “hold” rating on the stock. Morgan Stanley lowered their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Finally, Evercore ISI reduced their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.50.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 18,981 shares of the business’s stock in a transaction that occurred on 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 owns 267,265 shares in the company, valued at $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The disclosure for this sale can be found here. Insiders sold 43,464 shares of company stock worth $824,081 in the last 90 days. 2.77% of the stock is owned by corporate 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.