KLP Kapitalforvaltning AS Buys Shares of 58,000 Macy's, Inc. (NYSE:M)

KLP Kapitalforvaltning AS purchased a new position in shares of Macy's, Inc. (NYSE:M - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,000 shares of the company's stock, valued at approximately $990,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in Macy's by 1.2% during the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company's stock worth $1,364,000 after purchasing an additional 958 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Macy's by 2.4% in the fourth quarter. Pacer Advisors Inc. now owns 41,345 shares of the company's stock valued at $700,000 after buying an additional 960 shares during the period. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 969 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Macy's by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 45,105 shares of the company's stock worth $764,000 after acquiring an additional 1,122 shares during the period. Finally, Impact Partnership Wealth LLC raised its holdings in shares of Macy's by 7.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company's stock worth $286,000 after acquiring an additional 1,229 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

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Insider Activity at Macy's

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 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 transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company's stock.

Macy's Stock Performance

M stock traded up $0.35 during trading hours on Wednesday, reaching $13.22. The stock had a trading volume of 6,294,397 shares, compared to its average volume of 7,012,247. The stock has a 50-day simple moving average of $14.32 and a 200 day simple moving average of $15.25. Macy's, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. The stock has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. Analysts predict that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.52%. Macy's's payout ratio is presently 35.44%.

Analyst Ratings Changes

A number of research firms have issued reports on M. Gordon Haskett cut Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. Citigroup decreased their price objective on Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. cut Macy's from an "overweight" rating to a "neutral" rating and cut their target price for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th. Finally, Morgan Stanley set a $14.00 price objective on shares of Macy's in a research report on Monday, March 10th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.