New York State Common Retirement Fund Sells 28,910 Shares of Macy’s, Inc. (NYSE:M)

New York State Common Retirement Fund decreased its position in shares of Macy’s, Inc. (NYSE:M) by 12.7% in the fourth quarter, HoldingsChannel reports. The fund owned 198,290 shares of the company’s stock after selling 28,910 shares during the quarter. New York State Common Retirement Fund’s holdings in Macy’s were worth $3,990,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its position in Macy’s by 13.9% during the 4th quarter. CWM LLC now owns 7,587 shares of the company’s stock worth $153,000 after acquiring an additional 924 shares during the period. Lindbrook Capital LLC raised its stake in shares of Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after purchasing an additional 944 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Macy’s by 25.5% during the third quarter. Covestor Ltd now owns 4,763 shares of the company’s stock worth $55,000 after purchasing an additional 969 shares during the period. Arizona State Retirement System boosted its position in Macy’s by 1.8% in the third quarter. Arizona State Retirement System now owns 77,598 shares of the company’s stock valued at $901,000 after buying an additional 1,368 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in Macy’s by 14.3% in the 3rd quarter. Belpointe Asset Management LLC now owns 12,717 shares of the company’s stock worth $148,000 after buying an additional 1,592 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Macy’s

In related news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares in the company, valued at approximately $437,937.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were 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 in the company, valued at approximately $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 14,859 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 248,897 shares of the company’s stock, valued at approximately $4,885,848.11. The disclosure for this sale can be found here. Insiders sold a total of 218,424 shares of company stock worth $4,405,507 in the last 90 days. 1.52% of the stock is owned by insiders.

Macy’s Stock Performance

NYSE:M opened at $19.52 on Monday. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The firm has a market capitalization of $5.37 billion, a PE ratio of 52.76 and a beta of 2.16. The business’s fifty day moving average price is $19.57 and its 200 day moving average price is $17.79.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter last year, the company earned $1.88 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.56%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. Macy’s’s payout ratio is presently 186.49%.

Wall Street Analyst Weigh In

M has been the subject of several recent research reports. Morgan Stanley reduced 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 report on Wednesday, February 28th. StockNews.com began coverage on Macy’s in a report on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group raised their target price on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. 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. Finally, Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and upped their price objective for the stock 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 assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.45.

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.