Mitsubishi UFJ Trust & Banking Corp Lowers Stock Position in Macy’s, Inc. (NYSE:M)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Macy’s, Inc. (NYSE:M) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 617,003 shares of the company’s stock after selling 27,079 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Macy’s were worth $10,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new stake in Macy’s during the fourth quarter worth about $34,000. Jones Financial Companies Lllp boosted its stake in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Macy’s during the 3rd quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Macy’s in the 4th quarter worth approximately $38,000. Finally, Tompkins Financial Corp purchased a new position in Macy’s in the 4th quarter valued at approximately $102,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the completion of the sale, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. The trade was a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antony Spring sold 3,124 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares in the company, valued at $3,746,623.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,013 shares of company stock valued at $96,359 over the last quarter. Company insiders own 2.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on M shares. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group lowered their price objective 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. Cowen restated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. UBS Group lowered their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 7th. Finally, StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.30.

Macy’s Price Performance

M stock opened at $12.79 on Friday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 21.67 and a beta of 2.07. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 52-week low of $12.60 and a 52-week high of $20.70. The stock’s fifty day simple moving average is $14.38 and its 200-day simple moving average is $15.28.

Macy’s (NYSE:M) last released its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Equities research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.71%. Macy’s’s dividend payout ratio is 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.