Fintel reports that BlackRock Inc. has filed a 13G form with the SEC disclosing ownership of 26,178,291 shares of Macy's Inc (M). This represents 9.7% of the company.
In their previous filing dated January 27, 2022 they reported 35,817,107 shares and 12.00% of the company, a decrease in shares of 26.91% and a decrease in total ownership of 2.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 0.73% Upside
As of January 24, 2023, the average one-year price target for Macy's is $23.57. The forecasts range from a low of $14.14 to a high of $31.50. The average price target represents an increase of 0.73% from its latest reported closing price of $23.40.
The projected annual revenue for Macy's is $24,991MM, a decrease of -2.79%. The projected annual EPS is $4.29, a decrease of -14.59%.
Fund Sentiment
There are 904 funds or institutions reporting positions in Macy's Inc. This is a decrease of 66 owner(s) or 6.80%.
Average portfolio weight of all funds dedicated to Macy's Inc is 0.1570%, a decrease of 3.0873%. Total shares owned by institutions decreased in the last three months by 4.68% to 244,036,542 shares.
What are large shareholders doing?
Arrowstreet Capital, Limited Partnership holds 10,571,235 shares representing 3.90% ownership of the company. In it's prior filing, the firm reported owning 10,629,269 shares, representing a decrease of 0.55%. The firm decreased its portfolio allocation in M by 11.47% over the last quarter.
Newport Trust Co holds 7,876,936 shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 7,877,855 shares, representing a decrease of 0.01%. The firm decreased its portfolio allocation in M by 11.71% over the last quarter.
Appaloosa Lp holds 6,000,000 shares representing 2.21% ownership of the company. No change in the last quarter.
Citadel Advisors Llc holds 5,211,213 shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 490,560 shares, representing an increase of 90.59%. The firm increased its portfolio allocation in M by 707.07% over the last quarter.
Point72 Asset Management, L.P. holds 5,085,398 shares representing 1.88% ownership of the company. In it's prior filing, the firm reported owning 2,141,914 shares, representing an increase of 57.88%. The firm increased its portfolio allocation in M by 92.25% over the last quarter.
Macy's Declares $$0.16 Dividend
Macy's said on October 28, 2022 that its board of directors declared a regular quarterly dividend of $0.16 per share. Shareholders of record as of December 14, 2022 received the payment on January 3, 2023. Previously, the company paid $0.16 per share.
At the most recent share price of $23.40 / share, the stock's dividend yield is 0.67%. Additionally, the company's dividend payout ratio is 0.12, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company's 3-Year dividend growth rate is -0.58%, demonstrating that it consistently increased its dividends over time.
Macy`s Inc Background Information
(This description is provided by the company.)
Macy's, Inc. is one of the nation's premier omni-channel fashion retailers. The company comprises three retail brands, Macy's, Bloomingdale's and Bluemercury. Macy's, Inc. is headquartered in New York, New York.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
