Alaska Permanent Fund Corp Reduces Position in Macy’s, Inc. (NYSE:M)

Alaska Permanent Fund Corp lessened its stake in shares of Macy’s, Inc. (NYSE:M) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,351 shares of the company’s stock after selling 2,549 shares during the period. Alaska Permanent Fund Corp owned approximately 0.05% of Macy’s worth $2,945,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of M. Vontobel Holding Ltd. grew its position in Macy’s by 237.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 66,574 shares of the company’s stock worth $773,000 after purchasing an additional 46,834 shares during the last quarter. CWM LLC boosted its holdings in shares of Macy’s by 241.3% in the 3rd quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $77,000 after acquiring an additional 4,711 shares during the last quarter. Cumberland Advisors Inc. boosted its holdings in shares of Macy’s by 1.7% in the 3rd quarter. Cumberland Advisors Inc. now owns 116,510 shares of the company’s stock valued at $1,353,000 after acquiring an additional 2,000 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Macy’s by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 144,926 shares of the company’s stock valued at $1,683,000 after acquiring an additional 19,377 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Macy’s by 16.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 24,390 shares of the company’s stock valued at $283,000 after acquiring an additional 3,522 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

M has been the subject of several analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Thursday, March 28th. StockNews.com initiated coverage on shares of Macy’s in a research note on Wednesday. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their target price on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Morgan Stanley decreased their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.45.

Macy’s Trading Down 1.5 %

Macy’s stock traded down $0.29 during midday trading on Wednesday, hitting $18.73. 3,278,011 shares of the stock were exchanged, compared to its average volume of 7,918,688. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 51.41 and a beta of 2.15. The stock’s 50-day simple moving average is $19.68 and its 200 day simple moving average is $17.41. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the business earned $1.88 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that Macy’s, Inc. will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is 186.49%.

Insider Activity at Macy’s

In related news, CEO Antony Spring sold 13,404 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the transaction, the chief executive officer now owns 223,286 shares in the company, valued at $4,559,500.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Antony Spring sold 13,404 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the transaction, the chief executive officer now owns 223,286 shares in the company, valued at $4,559,500.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Gennette sold 78,567 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the completion of the transaction, the director now owns 994,301 shares of the company’s stock, valued at approximately $20,303,626.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,424 shares of company stock worth $4,405,507. Corporate insiders own 1.52% of the company’s stock.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.