American International Group Inc. Sells 14,359 Shares of Macy’s, Inc. (NYSE:M)

American International Group Inc. trimmed its stake in shares of Macy’s, Inc. (NYSE:M) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,591 shares of the company’s stock after selling 14,359 shares during the quarter. American International Group Inc. owned approximately 0.13% of Macy’s worth $7,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Glassman Wealth Services lifted its holdings in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after buying an additional 743 shares during the period. Lindbrook Capital LLC lifted its holdings in Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Fortitude Family Office LLC purchased a new stake in Macy’s in the 4th quarter worth approximately $50,000. Hexagon Capital Partners LLC lifted its holdings in Macy’s by 1,166.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock worth $55,000 after buying an additional 2,532 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Macy’s in the 4th quarter worth approximately $59,000. 87.36% of the stock is currently owned by institutional investors.

Insider Transactions at Macy’s

In other news, EVP Danielle L. Kirgan sold 3,274 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $20.28, for a total value of $66,396.72. Following the completion of the transaction, the executive vice president now owns 311,820 shares of the company’s stock, valued at $6,323,709.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Danielle L. Kirgan sold 3,274 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $20.28, for a total value of $66,396.72. Following the completion of the transaction, the executive vice president now owns 311,820 shares of the company’s stock, valued at $6,323,709.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Gennette sold 30,090 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 95,165 shares of company stock valued at $1,888,528 over the last 90 days. Company insiders own 2.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on M. JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Morgan Stanley lowered their target price on 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. The Goldman Sachs Group raised their target price on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Tuesday, May 21st. Finally, StockNews.com started coverage on Macy’s in a research note on Wednesday. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.70.

Macy’s Stock Performance

Shares of M opened at $18.34 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The firm has a market capitalization of $5.07 billion, a P/E ratio of 611.17 and a beta of 2.16. The business has a fifty day moving average of $19.08 and a 200 day moving average of $19.23.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. Macy’s’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Macy’s, Inc. will post 2.79 EPS for the current year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

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.