VIRGINIA RETIREMENT SYSTEMS ET Al Has $2.94 Million Position in Macy’s, Inc. $M

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Macy’s, Inc. (NYSE:M) by 45.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,359 shares of the company’s stock after purchasing an additional 41,750 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Macy’s worth $2,941,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in Macy’s by 6.6% in the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock worth $193,004,000 after purchasing an additional 669,729 shares in the last quarter. Schroder Investment Management Group boosted its stake in Macy’s by 1.1% in the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock worth $174,608,000 after purchasing an additional 110,548 shares in the last quarter. State Street Corp boosted its stake in Macy’s by 0.5% in the second quarter. State Street Corp now owns 9,420,372 shares of the company’s stock worth $111,547,000 after purchasing an additional 45,997 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Macy’s by 39.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,950,950 shares of the company’s stock worth $106,701,000 after purchasing an additional 1,697,412 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Macy’s by 12.2% in the third quarter. LSV Asset Management now owns 4,760,204 shares of the company’s stock worth $85,350,000 after purchasing an additional 516,359 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 50,044 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $896,788.48. Following the completion of the sale, the chief executive officer directly owned 485,791 shares in the company, valued at $8,705,374.72. This represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.92, for a total value of $179,379.20. Following the completion of the sale, the executive vice president owned 108,008 shares of the company’s stock, valued at $1,935,503.36. This trade represents a 8.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 94,967 shares of company stock valued at $1,705,276 over the last ninety days. 1.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

M has been the topic of several research reports. Citigroup cut their price target on Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Macy’s in a research note on Wednesday, March 18th. UBS Group upped their price target on Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. TD Cowen cut their price target on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. Finally, Zacks Research raised Macy’s from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $18.90.

Macy’s Trading Down 0.5%

Shares of M opened at $18.34 on Friday. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $24.41. The firm has a market capitalization of $4.84 billion, a PE ratio of 7.90 and a beta of 1.47. The stock’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $20.46.

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

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a $0.1915 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.2%. This is an increase from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. Macy’s’s dividend payout ratio is currently 33.19%.

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.