Nordea Investment Management AB Trims Macy's, Inc. Stock Ownership

Nordea Investment Management AB has reduced its stake in Macy's, Inc. (NYSE:M) by 2.8% during the 4th quarter, as reported by financial websites. This move resulted in the sale of 8,395 shares, leaving the firm with 287,689 shares valued at approximately $5.8 million, according to the latest SEC filings.

Investment Alterations by Major Players

Notably, various institutional investors and hedge funds have adjusted their positions in Macy’s. FinTrust Capital Advisors LLC secured a new position worth $26,000, while Quarry LP invested with a stake valued at $33,000. Belpointe Asset Management LLC notably increased its shareholdings by 267.1%, with Estabrook Capital Management and Fifth Third Bancorp also significantly raising their investments in the retail company.

Analyst Opinions and Price Targets

Several research analysts have shared their views on Macy's stock, with mixed opinions. While Morgan Stanley reduced their target price from $21.00 to $20.00 and maintained an “equal weight” rating, The Goldman Sachs Group suggested a more optimistic view by increasing their target price from $16.00 to $22.00, recommending a “buy.” Other analysts have given varying ratings from “sell” to “hold” with a consensus target price around $17.45.

Financial Performance and Dividend Increment

Macy's financial results for the most recent quarter showed earnings per share surpassing expectations at $2.45. However, the company experienced a slight decline in revenue compared to the previous year. Macy’s has also increased its quarterly dividend, boosting shareholder returns. The updated dividend yield now stands at 3.43%.

About Macy's

Macy's, Inc operates as an omni-channel retail giant with an array of branded stores and online platforms offering a wide variety of consumer goods. The company’s presence is a notable part of the American retail landscape, with strong brand recognition.

Investment, Macy's, Nordea