Nisa Investment Advisors LLC Sells 19,176 Shares of Macy’s, Inc. (NYSE:M)

Nisa Investment Advisors LLC trimmed its position in shares of Macy’s, Inc. (NYSE:M) by 79.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,820 shares of the company’s stock after selling 19,176 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Macy’s were worth $97,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of M. FinTrust Capital Advisors LLC bought a new stake in shares of Macy’s in the 4th quarter worth approximately $26,000. Quarry LP bought a new stake in shares of Macy’s in the 1st quarter worth approximately $33,000. Belpointe Asset Management LLC boosted its position in shares of Macy’s by 267.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company’s stock worth $34,000 after purchasing an additional 1,429 shares in the last quarter. Estabrook Capital Management boosted its position in shares of Macy’s by 77.8% in the 1st quarter. Estabrook Capital Management now owns 1,600 shares of the company’s stock worth $39,000 after purchasing an additional 700 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Macy’s by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock worth $41,000 after purchasing an additional 2,415 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Price Performance

Shares of M opened at $18.53 on Friday. The firm has a market cap of $5.10 billion, a PE ratio of 50.08 and a beta of 2.15. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $19.70 and a two-hundred day simple moving average of $17.26. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10.

Macy’s (NYSE:M) last announced its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. On average, equities analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.1737 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.75%. Macy’s’s payout ratio is currently 186.49%.

Wall Street Analyst Weigh In

M has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. 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. JPMorgan Chase & Co. upped their price objective on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. TD Cowen cut Macy’s from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. Finally, Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.45.

Insider Buying and Selling at Macy’s

In other news, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares in the company, valued at approximately $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Danielle L. Kirgan sold 15,070 shares of the company’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 completion of the sale, the executive vice president now directly owns 306,555 shares in the company, valued at approximately $6,259,853.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares of the company’s stock, valued at $437,937.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,424 shares of company stock worth $4,405,507. Insiders own 1.52% of the company’s stock.

About Macy’s

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.