Macy’s, Inc. (NYSE:M) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lessened its holdings in shares of Macy’s, Inc. (NYSE:M) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 146,351 shares of the company’s stock after selling 2,549 shares during the period. Alaska Permanent Fund Corp’s holdings in Macy’s were worth $2,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC increased its position in Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Macy’s in the fourth quarter valued at approximately $50,000. Fifth Third Bancorp grew its position in Macy’s by 221.4% in the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after acquiring an additional 2,415 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Macy’s by 1,911.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,560 shares of the company’s stock valued at $72,000 after acquiring an additional 3,383 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Macy’s in the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price objective on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research report on Thursday, March 28th. StockNews.com started coverage on Macy’s in a research note on Wednesday. They set a “hold” rating for the company. Finally, TD Cowen cut Macy’s from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.45.

Macy’s Stock Performance

M traded down $0.29 during trading hours on Wednesday, hitting $18.73. 3,278,011 shares of the stock were exchanged, compared to its average volume of 7,918,688. The stock has a 50-day simple moving average of $19.68 and a 200-day simple moving average of $17.41. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 51.41 and a beta of 2.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The firm had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.1737 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.71%. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Insider Buying and Selling

In other Macy’s news, CEO Antony Spring sold 13,404 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $273,709.68. Following the sale, the chief executive officer now directly owns 223,286 shares in the company, valued at $4,559,500.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the sale, the executive vice president now directly owns 306,555 shares in the company, valued at $6,259,853.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Antony Spring sold 13,404 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the sale, the chief executive officer now owns 223,286 shares in the company, valued at $4,559,500.12. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock worth $4,405,507 over the last ninety days. 1.52% of the stock is 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.