Wellington Management Group LLP Sells 2,949 Shares of Macy’s, Inc. $M

Wellington Management Group LLP decreased its holdings in shares of Macy’s, Inc. (NYSE:M) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,688 shares of the company’s stock after selling 2,949 shares during the period. Wellington Management Group LLP’s holdings in Macy’s were worth $674,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in M. Summit Securities Group LLC boosted its stake in Macy’s by 106.0% during the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock valued at $28,000 after buying an additional 38,800 shares during the period. Headlands Technologies LLC bought a new stake in Macy’s during the first quarter valued at $29,000. Raiffeisen Bank International AG purchased a new stake in Macy’s during the fourth quarter valued at about $111,000. Versant Capital Management Inc raised its position in Macy’s by 343.4% during the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company’s stock valued at $119,000 after purchasing an additional 7,318 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Macy’s during the first quarter valued at about $142,000. Institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the topic of a number of research reports. Citigroup restated a “neutral” rating and set a $12.00 price target (up previously from $11.00) on shares of Macy’s in a research report on Thursday, May 29th. Telsey Advisory Group restated a “market perform” rating and set a $14.00 price target on shares of Macy’s in a research report on Wednesday, August 27th. JPMorgan Chase & Co. raised their price target on Macy’s from $12.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, Morgan Stanley restated a “negative” rating on shares of Macy’s in a research report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.22.

Macy’s Stock Down 0.9%

M opened at $13.24 on Tuesday. The company has a market cap of $3.59 billion, a P/E ratio of 6.72 and a beta of 1.78. The business’s 50-day moving average price is $12.56 and its 200-day moving average price is $12.44. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.1824 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.73 annualized dividend and a dividend yield of 5.5%. Macy’s’s payout ratio is currently 37.06%.

Macy’s Company 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.