Cerity Partners LLC Sells 3,663 Shares of Macy’s, Inc. (NYSE:M)

Cerity Partners LLC cut its holdings in shares of Macy’s, Inc. (NYSE:M) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,902 shares of the company’s stock after selling 3,663 shares during the period. Cerity Partners LLC’s holdings in Macy’s were worth $205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. MML Investors Services LLC purchased a new stake in shares of Macy’s in the 3rd quarter valued at $193,000. Virtu Financial LLC acquired a new position in Macy’s in the third quarter valued at approximately $594,000. Wilmington Savings Fund Society FSB purchased a new stake in Macy’s in the 3rd quarter worth approximately $221,000. PVG Asset Management Corp acquired a new stake in shares of Macy’s during the 3rd quarter worth approximately $730,000. Finally, Retirement Systems of Alabama increased its holdings in shares of Macy’s by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock valued at $12,276,000 after purchasing an additional 286,879 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Stock Up 1.5 %

Shares of M stock opened at $11.19 on Friday. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $20.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The business’s fifty day moving average is $12.78 and its 200-day moving average is $14.69. The stock has a market cap of $3.12 billion, a PE ratio of 18.97 and a beta of 1.73.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Equities analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.1824 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Friday, March 14th. Macy’s’s payout ratio is 35.44%.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares of the company’s stock, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock worth $537,790 over the last 90 days. Insiders own 2.77% of the company’s stock.

Wall Street Analyst Weigh In

M has been the topic of several research analyst reports. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Citigroup dropped their price target on Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of Macy’s from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group cut shares of Macy’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $12.00 in a research report on Tuesday. Finally, New Street Research set a $13.00 price target on shares of Macy’s in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and an average target price of $14.40.

Macy’s Profile

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.