Schroder Investment Management Group Decreases Stock Holdings in Macy’s, Inc. (NYSE:M)

Schroder Investment Management Group lowered its position in Macy’s, Inc. (NYSE:M) by 1.4% during the fourth quarter, according to the company in its most recent filing 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 owned approximately 1.45% of Macy’s worth $68,047,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new position in Macy’s during the 4th quarter valued at about $34,000. Jones Financial Companies Lllp grew its stake in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter valued at about $35,000. Kestra Investment Management LLC purchased a new position in shares of Macy’s in the 4th quarter valued at approximately $38,000. Finally, Tompkins Financial Corp acquired a new stake in Macy’s in the 4th quarter worth approximately $102,000. Institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cowen restated a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $14.00 in a research note on Thursday, March 6th. Citigroup dropped their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Benchmark raised Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.30.

Insider Buying and Selling

In other Macy’s news, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of Macy’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the sale, the executive vice president now owns 4,723 shares in the company, valued at approximately $59,887.64. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,751 shares of company stock valued at $537,790. 2.77% of the stock is owned by company insiders.

Macy’s Trading Down 1.7 %

Macy’s stock opened at $12.60 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market cap of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07. The stock’s 50 day simple moving average is $14.36 and its two-hundred day simple moving average is $15.26. Macy’s, Inc. has a 12 month low of $12.48 and a 12 month high of $20.70.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is currently 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.