Mackay Shields LLC Has $11.02 Million Stake in Macy’s Inc (M)

Mackay Shields LLC cut its position in Macy’s Inc (NYSE:M) by 60.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,174 shares of the company’s stock after selling 563,272 shares during the quarter. Mackay Shields LLC owned 0.12% of Macy’s worth $11,023,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc increased its position in Macy’s by 6.5% during the 3rd quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock worth $1,222,675,000 after purchasing an additional 2,133,597 shares in the last quarter. BlackRock Inc. increased its position in Macy’s by 5.0% during the 4th quarter. BlackRock Inc. now owns 29,952,622 shares of the company’s stock worth $891,988,000 after purchasing an additional 1,419,975 shares in the last quarter. AQR Capital Management LLC increased its position in Macy’s by 88.7% during the 3rd quarter. AQR Capital Management LLC now owns 11,960,108 shares of the company’s stock worth $415,374,000 after purchasing an additional 5,620,910 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Macy’s by 2,958.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,681,203 shares of the company’s stock worth $224,000 after purchasing an additional 6,462,771 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Macy’s by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock worth $153,359,000 after purchasing an additional 355,028 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Shares of NYSE M opened at $23.71 on Friday. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.73. Macy’s Inc has a 52-week low of $22.73 and a 52-week high of $41.99. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.43.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $2.73 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.20. Macy’s had a net margin of 4.43% and a return on equity of 21.32%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same period in the prior year, the firm posted $2.82 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts expect that Macy’s Inc will post 3.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend is Thursday, March 14th. Macy’s’s dividend payout ratio is currently 36.12%.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Macy’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 12th. ValuEngine cut shares of Macy’s from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 28th. Atlantic Securities cut shares of Macy’s from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $39.00 to $28.00 in a research report on Thursday, December 6th. TheStreet cut shares of Macy’s from a “b-” rating to a “c+” rating in a research report on Tuesday, February 5th. Finally, Credit Suisse Group decreased their price target on shares of Macy’s from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 11th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.78.

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About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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