Allspring Global Investments Holdings LLC Has $179,000 Stake in Macy’s, Inc. (NYSE:M)

Allspring Global Investments Holdings LLC reduced its stake in shares of Macy’s, Inc. (NYSE:M) by 87.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,898 shares of the company’s stock after selling 60,885 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Macy’s were worth $179,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings 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 acquiring an additional 2,415 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Macy’s during the 4th quarter worth about $50,000. Covestor Ltd grew its holdings in Macy’s by 25.5% during the 3rd quarter. Covestor Ltd now owns 4,763 shares of the company’s stock worth $55,000 after acquiring an additional 969 shares during the last quarter. CWM LLC increased its position in Macy’s by 241.3% in the 3rd quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $77,000 after acquiring an additional 4,711 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Macy’s by 1,906.1% in the third quarter. EverSource Wealth Advisors LLC now owns 7,222 shares of the company’s stock worth $84,000 after acquiring an additional 6,862 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Up 0.4 %

NYSE:M opened at $18.43 on Monday. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 49.81 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 stock has a 50-day moving average price of $19.63 and a two-hundred day moving average price of $17.57. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10.

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

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.1737 dividend. 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 3.77%. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s payout ratio is currently 186.49%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on M shares. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. StockNews.com began coverage on shares of Macy’s in a research note on Wednesday, April 24th. They issued a “hold” rating on the stock. Morgan Stanley dropped their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.45.

Insider Buying and Selling

In other news, CEO Antony Spring sold 14,859 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the transaction, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Antony Spring sold 14,859 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the transaction, the chief executive officer now owns 248,897 shares in the company, valued at $4,885,848.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares in the company, 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 valued at $4,405,507. Company insiders own 1.52% of the company’s stock.

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.