Shell Asset Management Co. Sells 4,779 Shares of Macy’s, Inc. (NYSE:M)

Shell Asset Management Co. decreased its position in shares of Macy’s, Inc. (NYSE:MGet Rating) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,312 shares of the company’s stock after selling 4,779 shares during the quarter. Shell Asset Management Co.’s holdings in Macy’s were worth $787,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its position in shares of Macy’s by 108.9% during the 4th quarter. Marshall Wace LLP now owns 2,277,263 shares of the company’s stock worth $59,616,000 after buying an additional 1,186,933 shares during the period. Northern Trust Corp grew its position in shares of Macy’s by 26.5% during the 4th quarter. Northern Trust Corp now owns 4,681,813 shares of the company’s stock worth $122,569,000 after buying an additional 981,582 shares during the period. CTF Capital Management LP acquired a new stake in shares of Macy’s during the 4th quarter worth approximately $23,562,000. Rockefeller Capital Management L.P. grew its position in shares of Macy’s by 9,825.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 702,241 shares of the company’s stock worth $18,844,000 after buying an additional 695,166 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Macy’s during the 4th quarter worth approximately $13,052,000. Institutional investors own 85.98% of the company’s stock.

Macy’s Trading Up 1.1 %

NYSE M opened at $17.65 on Monday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 3.36, a PEG ratio of 0.33 and a beta of 1.82. Macy’s, Inc. has a one year low of $15.85 and a one year high of $37.95. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.12 and a quick ratio of 0.23. The business’s fifty day moving average is $19.81 and its 200-day moving average is $23.05.

Macy’s (NYSE:MGet Rating) last released its earnings results on Thursday, May 26th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.26. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Macy’s had a return on equity of 56.91% and a net margin of 6.42%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts predict that Macy’s, Inc. will post 4.62 EPS for the current year.

Macy’s Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were paid a $0.157 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Tuesday, June 14th. Macy’s’s dividend payout ratio is currently 11.98%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on M. Bank of America reduced their price target on shares of Macy’s from $22.00 to $15.00 and set an “underperform” rating for the company in a research report on Thursday, July 7th. Citigroup reduced their price target on shares of Macy’s from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, May 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Macy’s from $34.00 to $29.00 in a research report on Friday, May 27th. TheStreet downgraded shares of Macy’s from a “b-” rating to a “c” rating in a research report on Thursday, May 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Macy’s from $33.00 to $30.00 in a research report on Monday, May 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

Insider Activity at Macy’s

In related news, EVP C Elisa D. Garcia sold 15,920 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $17.36, for a total value of $276,371.20. Following the sale, the executive vice president now directly owns 85,541 shares in the company, valued at approximately $1,484,991.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jeffrey Gennette sold 78,021 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $17.36, for a total value of $1,354,444.56. Following the sale, the chief executive officer now directly owns 405,744 shares in the company, valued at approximately $7,043,715.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP C Elisa D. Garcia sold 15,920 shares of Macy’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $17.36, for a total value of $276,371.20. Following the transaction, the executive vice president now directly owns 85,541 shares of the company’s stock, valued at approximately $1,484,991.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,290 shares of company stock worth $1,636,878. Company insiders own 1.20% of the company’s stock.

Macy’s Profile

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Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of January 29, 2022, it operated 725 department stores in the District of Columbia, Puerto Rico, and Guam under the Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury brands.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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