34,367 Shares in Macy’s, Inc. (NYSE:M) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in shares of Macy’s, Inc. (NYSE:M) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 34,367 shares of the company’s stock, valued at approximately $582,000.

Several other hedge funds also recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy’s during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp boosted its holdings in Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares in the last quarter. Quest Partners LLC acquired a new stake in Macy’s during the third quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in Macy’s in the fourth quarter valued at $38,000. Finally, Tompkins Financial Corp acquired a new position in shares of Macy’s in the fourth quarter worth about $102,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Stock Down 0.8 %

M stock opened at $13.17 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $14.41 and a two-hundred day moving average of $15.28. Macy’s, Inc. has a 12 month low of $12.60 and a 12 month high of $20.70. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 22.31 and a beta of 2.07.

Macy’s (NYSE:M) last released 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 return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. As a group, analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a yield of 5.54%. Macy’s’s payout ratio is 35.44%.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 3,124 shares of Macy’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at $3,746,623.20. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $47,938.86. Following the completion of the transaction, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,013 shares of company stock worth $96,359 in the last ninety days. 2.77% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on M shares. Citigroup dropped their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Gordon Haskett lowered Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. New Street Research set a $13.00 target price on Macy’s in a research note on Thursday, March 6th. Telsey Advisory Group set a $15.00 target price on Macy’s in a research report on Friday, March 7th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and a consensus price target of $15.30.

About Macy’s

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.