Macy’s, Inc. (NYSE:M) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in Macy’s, Inc. (NYSE:M) by 2.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 41,267 shares of the company’s stock after selling 999 shares during the quarter. Pacer Advisors Inc.’s holdings in Macy’s were worth $792,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of M. CWM LLC lifted its holdings in Macy’s by 7.7% in the 2nd quarter. CWM LLC now owns 8,398 shares of the company’s stock worth $161,000 after buying an additional 598 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Macy’s by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after acquiring an additional 761 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Macy’s by 13.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,900 shares of the company’s stock valued at $139,000 after purchasing an additional 800 shares in the last quarter. Wedmont Private Capital increased its holdings in Macy’s by 6.1% during the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after purchasing an additional 833 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Macy’s by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Macy’s news, EVP Danielle L. Kirgan sold 24,147 shares of the company’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 transaction, the executive vice president now owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now directly owns 267,265 shares in the company, valued at $5,067,344.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,665 shares of company stock valued at $842,372. 2.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on M. StockNews.com began coverage on shares of Macy’s in a research report on Monday, September 23rd. They set a “hold” rating for the company. Evercore ISI dropped 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 research report on Tuesday, July 16th. Morgan Stanley cut 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, August 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.43.

Macy’s Price Performance

Shares of NYSE:M opened at $15.25 on Friday. The company has a market cap of $4.22 billion, a PE ratio of 508.33 and a beta of 2.11. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The firm has a 50-day simple moving average of $15.74 and a 200 day simple moving average of $17.95. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating 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 return on equity of 23.14% and a net margin of 0.80%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. On average, sell-side analysts anticipate that Macy’s, Inc. will post 2.72 EPS for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s payout ratio is 2,300.00%.

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.