Schroder Investment Management Group Buys 110,548 Shares of Macy’s, Inc. $M

Schroder Investment Management Group grew its position in Macy’s, Inc. (NYSE:M) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,738,338 shares of the company’s stock after purchasing an additional 110,548 shares during the period. Schroder Investment Management Group owned about 3.63% of Macy’s worth $174,608,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Macy’s by 38.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,989 shares of the company’s stock valued at $2,047,000 after purchasing an additional 45,149 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Macy’s by 5.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,116,170 shares of the company’s stock worth $14,019,000 after buying an additional 55,821 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Macy’s by 33.1% during the first quarter. Focus Partners Wealth now owns 58,197 shares of the company’s stock worth $731,000 after buying an additional 14,489 shares in the last quarter. Savant Capital LLC increased its holdings in shares of Macy’s by 86.3% during the second quarter. Savant Capital LLC now owns 59,480 shares of the company’s stock worth $694,000 after buying an additional 27,560 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of Macy’s by 14.4% in the second quarter. Penserra Capital Management LLC now owns 70,145 shares of the company’s stock valued at $817,000 after acquiring an additional 8,840 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

M opened at $17.97 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The stock has a market capitalization of $4.78 billion, a P/E ratio of 10.63 and a beta of 1.51. The company’s 50 day simple moving average is $21.19 and its 200-day simple moving average is $19.89. Macy’s, Inc. has a one year low of $9.76 and a one year high of $24.41.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.1915 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.77 annualized dividend and a yield of 4.3%. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio (DPR) is currently 43.20%.

Insider Buying and Selling

In other news, EVP Danielle L. Kirgan sold 85,000 shares of Macy’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the completion of the sale, the executive vice president directly owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on M. Telsey Advisory Group increased their price target on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a research report on Monday, December 29th. Evercore boosted their price objective on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research note on Friday, December 5th. The Goldman Sachs Group increased their target price on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Finally, Guggenheim assumed coverage on Macy’s in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $20.00.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.