California Public Employees Retirement System Sells 62,030 Shares of Macy’s, Inc. (NYSE:M)

California Public Employees Retirement System lowered its stake in shares of Macy’s, Inc. (NYSE:MGet Rating) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,930 shares of the company’s stock after selling 62,030 shares during the quarter. California Public Employees Retirement System owned 0.21% of Macy’s worth $10,203,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of M. Principal Financial Group Inc. grew its stake in Macy’s by 10.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,121,631 shares of the company’s stock valued at $20,548,000 after purchasing an additional 109,024 shares during the period. WINTON GROUP Ltd grew its stake in Macy’s by 23.8% in the 2nd quarter. WINTON GROUP Ltd now owns 102,263 shares of the company’s stock valued at $1,873,000 after purchasing an additional 19,654 shares during the period. Mount Lucas Management LP grew its stake in Macy’s by 11.3% in the 2nd quarter. Mount Lucas Management LP now owns 21,337 shares of the company’s stock valued at $391,000 after purchasing an additional 2,171 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Macy’s by 53.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 449,153 shares of the company’s stock valued at $8,228,000 after purchasing an additional 155,840 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in Macy’s in the 2nd quarter valued at $118,000. Institutional investors own 85.57% of the company’s stock.

Macy’s Stock Performance

Shares of M opened at $22.68 on Tuesday. The stock’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $19.14. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 4.73, a price-to-earnings-growth ratio of 0.44 and a beta of 1.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.14 and a current ratio of 1.09. Macy’s, Inc. has a 52-week low of $15.10 and a 52-week high of $35.85.

Macy’s (NYSE:MGet Rating) last released its quarterly earnings results on Thursday, November 17th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.33. Macy’s had a return on equity of 42.58% and a net margin of 5.68%. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. Research analysts forecast that Macy’s, Inc. will post 4.17 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.63 annualized dividend and a dividend yield of 2.78%. Macy’s’s payout ratio is currently 13.13%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Macy’s from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Friday. Jefferies Financial Group dropped their price target on Macy’s from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, September 15th. Evercore ISI dropped their price target on Macy’s from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 24th. Telsey Advisory Group dropped their price target on Macy’s from $28.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 24th. Finally, Citigroup upped their price target on Macy’s from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.18.

Insider Buying and Selling at Macy’s

In other news, SVP Paul Griscom sold 2,868 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $17.43, for a total transaction of $49,989.24. Following the transaction, the senior vice president now directly owns 4,688 shares in the company, valued at approximately $81,711.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

About Macy’s

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Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

See Also

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

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