Schroder Investment Management Group Reduces Position in Macy’s, Inc. (NYSE:M)

Schroder Investment Management Group trimmed its holdings in Macy’s, Inc. (NYSE:M) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,019,338 shares of the company’s stock after selling 58,903 shares during the period. Schroder Investment Management Group’s holdings in Macy’s were worth $68,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after buying an additional 774,693 shares during the last quarter. Norges Bank purchased a new position in shares of Macy’s during the 4th quarter worth $96,689,000. Geode Capital Management LLC raised its holdings in shares of Macy’s by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after acquiring an additional 128,258 shares during the period. FMR LLC boosted its position in shares of Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Macy’s by 13.3% in the fourth quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock valued at $59,461,000 after purchasing an additional 411,412 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Citigroup decreased their price objective on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Morgan Stanley set a $14.00 target price on Macy’s in a research note on Monday, March 10th. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Finally, New Street Research set a $13.00 price objective on Macy’s in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.30.

Insider Buying and Selling

In related news, EVP Adrian V. Mitchell sold 5,122 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $12.77, for a total transaction of $65,407.94. Following the completion of the transaction, the executive vice president now owns 130,491 shares in the company, valued at approximately $1,666,370.07. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Antony Spring sold 20,868 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 321,244 shares in the company, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company’s stock.

Macy’s Trading Down 1.7 %

Shares of M stock opened at $12.60 on Tuesday. Macy’s, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. The company has a 50 day moving average price of $14.36 and a 200 day moving average price of $15.26. The stock has a market capitalization of $3.50 billion, a P/E ratio of 21.35 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Equities research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

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.