Macy’s, Inc. (NYSE:M) Stock Holdings Trimmed by Highland Capital Management LLC

Highland Capital Management LLC lowered its position in shares of Macy’s, Inc. (NYSE:M) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,050 shares of the company’s stock after selling 1,140 shares during the quarter. Highland Capital Management LLC’s holdings in Macy’s were worth $212,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of M. Norges Bank bought a new position in shares of Macy’s during the fourth quarter valued at approximately $62,529,000. Dimensional Fund Advisors LP increased its position in Macy’s by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after buying an additional 1,685,986 shares during the period. Crestline Management LP bought a new stake in Macy’s in the fourth quarter valued at $32,192,000. Invenomic Capital Management LP bought a new stake in Macy’s in the fourth quarter valued at $19,372,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Macy’s by 1,044.1% during the fourth quarter. Hsbc Holdings PLC now owns 906,708 shares of the company’s stock valued at $18,331,000 after acquiring an additional 827,456 shares during the period. Institutional investors own 87.36% of the company’s stock.

Insider Activity at Macy’s

In other news, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction 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 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 filing with the SEC, which is available at this hyperlink. In related news, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 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 $457,827.12. Following the completion of the sale, 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 a total of 43,464 shares of company stock worth $824,081 in the last 90 days. 2.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on M shares. TD Cowen upped their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Morgan Stanley decreased their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday. Evercore ISI lowered their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.50.

Macy’s Stock Up 5.2 %

Shares of NYSE:M traded up $0.79 during trading on Friday, reaching $15.96. 9,980,921 shares of the company traded hands, compared to its average volume of 6,794,616. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.41 billion, a P/E ratio of 532.00 and a beta of 2.18. The firm has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $18.71.

Macy’s (NYSE:M) last issued 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. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Analysts anticipate that Macy’s, Inc. will post 2.79 earnings per share for the current fiscal year.

Macy’s Announces Dividend

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