State of New Jersey Common Pension Fund D reduced its stake in shares of Macy’s Inc (NYSE:M) by 93.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,500 shares of the company’s stock after selling 1,110,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Macy’s were worth $1,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Macy’s by 2.1% in the second quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock valued at $711,444,000 after buying an additional 618,535 shares in the last quarter. BlackRock Inc. increased its position in shares of Macy’s by 3.9% in the second quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock valued at $589,839,000 after buying an additional 963,487 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Macy’s by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after buying an additional 1,117,903 shares in the last quarter. LSV Asset Management increased its position in shares of Macy’s by 0.8% in the second quarter. LSV Asset Management now owns 3,638,054 shares of the company’s stock valued at $84,548,000 after buying an additional 28,530 shares in the last quarter. Finally, Discovery Capital Management LLC CT increased its position in shares of Macy’s by 239.0% in the second quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock valued at $66,729,000 after buying an additional 2,024,297 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

In related news, Director John A. Bryant bought 9,825 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $20.32 per share, with a total value of $199,644.00. Following the completion of the purchase, the director now directly owns 9,825 shares in the company, valued at $199,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Macy’s Inc (NYSE:M) opened at $18.36 on Friday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.66 and a beta of 0.86. The company has a quick ratio of 0.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.44.

Macy’s (NYSE:M) last issued its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.52 billion. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. Macy’s’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. research analysts anticipate that Macy’s Inc will post 3.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 8.22%. The ex-dividend date is Thursday, December 14th. Macy’s’s dividend payout ratio is presently 68.64%.

A number of analysts have recently commented on M shares. BidaskClub upgraded Macy’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Vetr cut Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective for the company. in a research report on Thursday, July 27th. Wedbush restated a “hold” rating on shares of Macy’s in a research report on Monday, July 31st. Deutsche Bank AG boosted their price objective on Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, August 8th. Finally, Zacks Investment Research cut Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.31.

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About Macy’s

Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.

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

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