Macy’s, Inc. $M Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC cut its stake in shares of Macy’s, Inc. (NYSE:M) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,989,536 shares of the company’s stock after selling 176,305 shares during the period. Newport Trust Company LLC’s holdings in Macy’s were worth $154,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in M. Invesco Ltd. grew its position in shares of Macy’s by 160.5% during the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock worth $49,941,000 after buying an additional 2,639,132 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Macy’s by 39.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company’s stock worth $106,701,000 after buying an additional 1,697,412 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Macy’s during the fourth quarter worth about $30,722,000. Ceredex Value Advisors LLC acquired a new position in shares of Macy’s during the third quarter worth about $12,673,000. Finally, Citigroup Inc. grew its position in shares of Macy’s by 812.2% during the third quarter. Citigroup Inc. now owns 768,008 shares of the company’s stock worth $13,770,000 after buying an additional 683,816 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on M. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price objective on shares of Macy’s in a research report on Wednesday, March 18th. JPMorgan Chase & Co. lowered their price objective on Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. UBS Group boosted their price objective on Macy’s from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research report on Friday, March 27th. Finally, Citigroup decreased their target price on Macy’s from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $18.90.

Macy’s Price Performance

Shares of NYSE M opened at $20.63 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $24.41. The stock has a 50 day moving average of $18.72 and a two-hundred day moving average of $20.45. The stock has a market cap of $5.44 billion, a P/E ratio of 8.89 and a beta of 1.47.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.48 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts forecast that Macy’s, Inc. will post 2.09 earnings per share for the current year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.1915 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.7%. Macy’s’s payout ratio is presently 33.19%.

Insider Buying and Selling

In other news, EVP Tracy M. Preston sold 5,271 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $94,456.32. Following the transaction, the executive vice president owned 28,773 shares of the company’s stock, valued at approximately $515,612.16. The trade was a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Danielle L. Kirgan sold 10,010 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $179,379.20. Following the completion of the transaction, the executive vice president directly owned 108,008 shares in the company, valued at approximately $1,935,503.36. The trade was a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 94,967 shares of company stock worth $1,705,276. 1.05% of the stock is currently owned by company insiders.

About Macy’s

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.