LSV Asset Management Has $111.23 Million Stake in Macy’s, Inc. (NYSE:M)

LSV Asset Management reduced its stake in shares of Macy’s, Inc. (NYSE:M) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,528,535 shares of the company’s stock after selling 56,547 shares during the period. LSV Asset Management’s holdings in Macy’s were worth $111,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its holdings in Macy’s by 2,964.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 332,488 shares of the company’s stock worth $6,690,000 after purchasing an additional 321,638 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Macy’s by 1,166.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock valued at $55,000 after purchasing an additional 2,532 shares during the period. Islay Capital Management LLC bought a new stake in shares of Macy’s in the 4th quarter worth about $1,301,000. SummerHaven Investment Management LLC increased its holdings in shares of Macy’s by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 43,046 shares of the company’s stock worth $866,000 after buying an additional 554 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Macy’s by 0.5% during the 4th quarter. Retirement Systems of Alabama now owns 498,612 shares of the company’s stock valued at $10,032,000 after purchasing an additional 2,428 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insider Transactions at Macy’s

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey Gennette sold 78,567 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $1,604,338.14. Following the completion of the sale, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares in the company, valued at $437,937.48. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock valued at $4,405,507 in the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Macy’s Price Performance

Shares of NYSE:M traded up $0.40 during trading on Friday, hitting $19.52. 4,302,393 shares of the company were exchanged, compared to its average volume of 5,097,625. The company has a market capitalization of $5.37 billion, a P/E ratio of 52.74 and a beta of 2.16. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $19.57 and its 200-day moving average is $17.75.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the company posted $1.88 earnings per share. Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts forecast that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Thursday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is presently 186.49%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on M. Morgan Stanley reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Citigroup upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.00 to $18.00 in a report on Friday, February 2nd. Finally, StockNews.com assumed coverage on shares of Macy’s in a research note on Thursday. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.45.

Macy’s Company 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.