Victory Capital Management Inc. Trims Stock Holdings in Macy’s, Inc. (NYSE:M)

Victory Capital Management Inc. decreased its stake in Macy’s, Inc. (NYSE:M) by 42.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,994 shares of the company’s stock after selling 175,716 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Macy’s worth $3,978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in Macy’s by 2.4% during the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock valued at $700,000 after purchasing an additional 960 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the last quarter. Impact Partnership Wealth LLC boosted its position in shares of Macy’s by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock worth $286,000 after acquiring an additional 1,229 shares during the last quarter. KBC Group NV boosted its position in shares of Macy’s by 19.9% during the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock worth $125,000 after acquiring an additional 1,319 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on M. Telsey Advisory Group set a $15.00 price target on shares of Macy’s in a research note on Friday, March 7th. The Goldman Sachs Group decreased their price target on shares of Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. UBS Group reduced their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Finally, Cowen reissued a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.56.

Macy’s Stock Down 4.1 %

NYSE:M opened at $13.09 on Friday. Macy’s, Inc. has a fifty-two week low of $12.60 and a fifty-two week high of $22.10. The stock has a market capitalization of $3.63 billion, a P/E ratio of 22.18 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company’s 50-day simple moving average is $14.72 and its 200-day simple moving average is $15.39.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. On average, equities analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.1824 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is presently 35.44%.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.