AQR Capital Management LLC Has $23.98 Million Holdings in Macy’s, Inc. (NYSE:M)

AQR Capital Management LLC trimmed its holdings in shares of Macy’s, Inc. (NYSE:M) by 26.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,416,333 shares of the company’s stock after selling 509,030 shares during the period. AQR Capital Management LLC’s holdings in Macy’s were worth $23,979,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Macy’s during the fourth quarter valued at about $96,689,000. FMR LLC raised its stake in Macy’s by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after buying an additional 2,812,151 shares during the period. Marshall Wace LLP lifted its holdings in shares of Macy’s by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock worth $40,415,000 after purchasing an additional 2,207,809 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in shares of Macy’s by 26.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after buying an additional 1,627,572 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Macy’s by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock worth $266,666,000 after acquiring an additional 1,149,454 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on M. UBS Group decreased their price objective on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their price objective on Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Cowen reiterated a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Barclays started coverage on Macy’s in a research report on Monday, April 28th. They issued a “cautious” rating and a $12.00 target price for the company. Finally, The Goldman Sachs Group lowered Macy’s from a “buy” rating to a “neutral” rating and lowered their target price for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Macy’s has a consensus rating of “Hold” and an average price target of $14.18.

Insider Buying and Selling

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company’s stock, valued at $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antony Spring sold 20,868 shares of Macy’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company’s stock, valued at approximately $4,073,373.92. This trade represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock worth $537,790 over the last ninety days. 1.09% of the stock is owned by corporate insiders.

Macy’s Stock Up 2.5 %

M stock opened at $11.95 on Friday. Macy’s, Inc. has a twelve month low of $9.76 and a twelve month high of $20.70. The firm has a market capitalization of $3.33 billion, a PE ratio of 20.25 and a beta of 1.77. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a 50-day simple moving average of $12.43 and a two-hundred day simple moving average of $14.54.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping 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 analyst estimates of $7.76 billion. On average, equities analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid 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 was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 6.11%. Macy’s’s dividend payout ratio (DPR) is currently 35.44%.

Macy’s 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.