Macy’s, Inc. (NYSE:M) Shares Purchased by Mariner LLC

Mariner LLC boosted its stake in Macy’s, Inc. (NYSE:M) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,721 shares of the company’s stock after buying an additional 3,560 shares during the quarter. Mariner LLC’s holdings in Macy’s were worth $1,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Macy’s in the 4th quarter valued at approximately $96,689,000. FMR LLC grew its holdings 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 acquiring an additional 2,812,151 shares in the last quarter. Cooper Creek Partners Management LLC raised its holdings in shares of Macy’s by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after purchasing an additional 1,627,572 shares in the last quarter. American Century Companies Inc. raised its position 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 acquiring an additional 774,693 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 419,261 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Shares of Macy’s stock opened at $11.19 on Friday. The firm’s 50-day moving average price is $12.78 and its two-hundred day moving average price is $14.68. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 1-year low of $9.76 and a 1-year high of $20.70. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.97 and a beta of 1.73.

Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.76 billion. On average, equities analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.52%. The ex-dividend date was Friday, March 14th. Macy’s’s dividend payout ratio is 35.44%.

Wall Street Analysts Forecast Growth

M has been the subject of a number of research reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 target price on shares of Macy’s in a report on Wednesday, April 2nd. UBS Group dropped their target price on shares of 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. dropped their price objective on Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Cowen reissued a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Finally, Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.40.

Insider Activity at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the company’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 value of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Antony Spring sold 3,124 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 transaction of $42,923.76. Following the sale, the chief executive officer now owns 272,680 shares of the company’s stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,751 shares of company stock worth $537,790. Insiders own 2.77% of the company’s stock.

Macy’s Company 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.