Macy’s, Inc. (NYSE:M) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Macy’s, Inc. (NYSE:MGet Rating) by 53.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,700 shares of the company’s stock after selling 7,580 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Macy’s were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Macy’s by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock worth $744,202,000 after buying an additional 1,642,941 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock valued at $246,184,000 after acquiring an additional 2,155,936 shares in the last quarter. Renaissance Technologies LLC raised its position in Macy’s by 126.2% during the first quarter. Renaissance Technologies LLC now owns 3,796,764 shares of the company’s stock worth $92,489,000 after acquiring an additional 2,118,174 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Macy’s by 26.9% in the first quarter. LSV Asset Management now owns 3,392,457 shares of the company’s stock valued at $82,640,000 after purchasing an additional 718,731 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Macy’s by 1.4% in the first quarter. Victory Capital Management Inc. now owns 1,696,388 shares of the company’s stock valued at $41,303,000 after purchasing an additional 22,839 shares during the last quarter. 85.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Paul Griscom sold 2,868 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $17.43, for a total value of $49,989.24. Following the completion of the sale, the senior vice president now owns 4,688 shares of the company’s stock, valued at $81,711.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by corporate insiders.

Macy’s Price Performance

M stock opened at $19.59 on Monday. The company has a market cap of $5.31 billion, a PE ratio of 3.79, a price-to-earnings-growth ratio of 0.40 and a beta of 1.74. The company has a current ratio of 1.17, a quick ratio of 0.19 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $17.84 and a two-hundred day moving average price of $19.50. Macy’s, Inc. has a 12-month low of $15.10 and a 12-month high of $37.95.

Macy’s (NYSE:MGet Rating) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.48 billion. Macy’s had a return on equity of 51.29% and a net margin of 6.16%. During the same period in the previous year, the company posted $1.29 EPS. As a group, research analysts predict that Macy’s, Inc. will post 4.13 EPS for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.63 annualized dividend and a dividend yield of 3.22%. Macy’s’s payout ratio is 12.19%.

Analysts Set New Price Targets

Several research analysts recently issued reports on M shares. Telsey Advisory Group cut their price objective on Macy’s from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Macy’s from $29.00 to $25.00 in a research report on Tuesday, August 16th. Evercore ISI dropped their price objective on Macy’s from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, August 24th. Citigroup reduced their target price on shares of Macy’s from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 24th. Finally, StockNews.com began coverage on shares of Macy’s in a report on Wednesday, October 12th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.08.

Macy’s Company Profile

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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.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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