Victory Capital Management Inc. Sells 8,184 Shares of Macy’s, Inc. (NYSE:M)

Victory Capital Management Inc. decreased its holdings in shares of Macy’s, Inc. (NYSE:M) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 395,309 shares of the company’s stock after selling 8,184 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Macy’s worth $7,590,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Macy’s by 44.9% during the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after acquiring an additional 160,093 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Macy’s by 0.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Macy’s in the 1st quarter valued at $1,043,000. Invenomic Capital Management LP acquired a new position in shares of Macy’s in the 4th quarter valued at $19,372,000. Finally, Atlas Capital Advisors LLC increased its position in shares of Macy’s by 1,122.9% in the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock valued at $354,000 after buying an additional 16,248 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

M has been the topic of several recent analyst reports. Evercore ISI reduced their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Morgan Stanley lowered their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. TD Cowen increased their price objective on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com started coverage on shares of Macy’s in a research report on Sunday. They issued a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.50.

Macy’s Stock Up 2.1 %

Shares of M stock opened at $15.00 on Monday. The firm’s fifty day moving average price is $16.29 and its two-hundred day moving average price is $18.27. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The firm has a market capitalization of $4.16 billion, a P/E ratio of 500.00 and a beta of 2.11.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.30 by $0.23. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, equities analysts predict that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, September 13th. Macy’s’s dividend payout ratio is currently 2,300.00%.

Insider Activity

In other Macy’s news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Macy’s news, CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now directly owns 267,265 shares in the company, valued at $5,067,344.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $457,827.12. Following the sale, the executive vice president now owns 348,000 shares of the company’s stock, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders sold a total of 44,665 shares of company stock valued at $842,372 in the last quarter. Company insiders own 2.77% 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.