Schroder Investment Management Group Has $174.61 Million Stock Position in Macy’s, Inc. $M

Schroder Investment Management Group boosted its position in shares of Macy’s, Inc. (NYSE:M) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,738,338 shares of the company’s stock after buying an additional 110,548 shares during the quarter. Schroder Investment Management Group’s holdings in Macy’s were worth $174,608,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in shares of Macy’s by 4.2% in the 3rd quarter. Private Advisor Group LLC now owns 18,444 shares of the company’s stock valued at $331,000 after purchasing an additional 750 shares during the last quarter. Vinva Investment Management Ltd acquired a new stake in shares of Macy’s during the 3rd quarter worth approximately $131,000. Natixis Advisors LLC bought a new stake in shares of Macy’s during the third quarter worth approximately $335,000. Barington Companies Management LLC raised its stake in shares of Macy’s by 4.0% during the third quarter. Barington Companies Management LLC now owns 1,300,000 shares of the company’s stock worth $23,309,000 after buying an additional 50,000 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Macy’s by 19.3% in the third quarter. First Trust Advisors LP now owns 1,239,592 shares of the company’s stock valued at $22,226,000 after buying an additional 200,114 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. TD Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. The Goldman Sachs Group increased their price target on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a research report on Monday, December 29th. Finally, Guggenheim started coverage on Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $20.00.

Insider Buying and Selling at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total value of $2,033,200.00. Following the completion of the transaction, the executive vice president owned 51,161 shares of the company’s stock, valued at $1,223,771.12. The trade was a 62.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.77% of the stock is currently owned by corporate insiders.

Macy’s Stock Down 1.6%

Macy’s stock opened at $17.97 on Tuesday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 10.63 and a beta of 1.51. The company’s 50 day simple moving average is $21.19 and its 200 day simple moving average is $19.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy’s, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $24.41.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.1915 dividend. This represents a $0.77 annualized dividend and a yield of 4.3%. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is 43.20%.

Macy’s Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.