By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS acquired a new stake in Macy’s, Inc. (NYSE:M – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 58,000 shares of the company’s stock, valued at approximately $990,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Macy’s by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after purchasing an additional 774,693 shares during the period. Geode Capital Management LLC raised its position in Macy’s by 2.6% in the third quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after acquiring an additional 128,258 shares during the period. FMR LLC boosted its stake in Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Macy’s by 13.3% during the 4th quarter. Allianz Asset Management GmbH now owns 3,512,142 shares of the company’s stock valued at $59,461,000 after acquiring an additional 411,412 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Macy’s by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock worth $56,116,000 after purchasing an additional 419,261 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
Macy’s Stock Performance
NYSE M opened at $12.79 on Monday. The company has a fifty day moving average of $14.38 and a 200-day moving average of $15.28. The company has a market capitalization of $3.55 billion, a P/E ratio of 21.67 and a beta of 2.07. Macy’s, Inc. has a 52-week low of $12.60 and a 52-week high of $20.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.
Macy’s (NYSE:M – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, equities research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.
Macy’s Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.1824 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Friday, March 14th. Macy’s’s payout ratio is 35.44%.
Analyst Ratings Changes
M has been the subject of several research reports. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $14.00 in a report on Thursday, March 6th. Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Friday, March 7th. New Street Research set a $13.00 price target on shares of Macy’s in a research report on Thursday, March 6th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.30.
Read Our Latest Stock Analysis on M
Insider Buying and Selling at Macy’s
In other news, EVP Adrian V. Mitchell sold 3,489 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now directly owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares of the company’s stock, valued at $3,746,623.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,013 shares of company stock worth $96,359. 2.77% of the stock is currently owned by insiders.
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.
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