Readystate Asset Management LP trimmed its position in shares of Macy’s, Inc. (NYSE:M – Free Report) by 60.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,018 shares of the company’s stock after selling 166,978 shares during the period. Readystate Asset Management LP’s holdings in Macy’s were worth $2,153,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Glassman Wealth Services raised its holdings in Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in Macy’s during the fourth quarter valued at about $26,000. Atlas Capital Advisors LLC bought a new position in shares of Macy’s in the fourth quarter worth about $29,000. Finally, Quarry LP bought a new position in shares of Macy’s in the first quarter worth about $33,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Macy’s
In other news, SVP Paul Griscom sold 2,969 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey Gennette sold 30,090 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the transaction, the director now directly owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction that occurred on 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 directly owns 21,436 shares in the company, valued at $437,937.48. The disclosure for this sale can be found here. Insiders sold a total of 218,424 shares of company stock worth $4,405,507 in the last three months. Insiders own 1.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on Macy’s
Macy’s Trading Up 0.1 %
M stock traded up $0.02 during trading on Wednesday, hitting $19.01. The company had a trading volume of 4,148,515 shares, compared to its average volume of 8,105,331. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 51.38 and a beta of 2.15. 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 firm has a 50-day moving average price of $19.71 and a 200-day moving average price of $17.16.
Macy’s (NYSE:M – Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.88 EPS. As a group, analysts predict that Macy’s, Inc. will post 2.57 earnings per share for the current year.
Macy’s Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. Macy’s’s dividend payout ratio is currently 186.49%.
About Macy’s
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.
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