Macy's, Inc. (NYSE:M) is Cooper Creek Partners Management LLC's 3rd Largest Position

Cooper Creek Partners Management LLC grew its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,838,240 shares of the company's stock after purchasing an additional 1,627,572 shares during the quarter. Macy's makes up approximately 4.1% of Cooper Creek Partners Management LLC's holdings, making the stock its 3rd biggest position. Cooper Creek Partners Management LLC owned about 2.82% of Macy's worth $132,701,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new position in shares of Macy's in the fourth quarter worth about $34,000. Jones Financial Companies Lllp raised its stake in Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the period. Kestra Investment Management LLC purchased a new position in Macy's during the fourth quarter valued at approximately $38,000. Bessemer Group Inc. boosted its position in shares of Macy's by 495.5% in the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after purchasing an additional 2,839 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in shares of Macy's in the fourth quarter worth $102,000. Institutional investors own 87.36% of the company's stock.

Macy's Price Performance

Shares of NYSE:M traded up $0.12 on Friday, reaching $11.13. The company's stock had a trading volume of 5,510,570 shares, compared to its average volume of 6,194,813. The company has a 50-day simple moving average of $13.26 and a 200 day simple moving average of $14.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company has a market cap of $3.10 billion, a P/E ratio of 18.86 and a beta of 1.73. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $20.70.

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

Macy's Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, March 14th. 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 dividend yield of 6.56%. Macy's's payout ratio is currently 35.44%.

Insider Activity at Macy's

In related news, CEO Antony Spring sold 20,868 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares of the company's stock, valued at $4,073,373.92. This represents a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. Insiders own 2.77% of the company's stock.

Analyst Upgrades and Downgrades

M has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Monday. Morgan Stanley set a $14.00 price objective on Macy's in a research note on Monday, March 10th. Gordon Haskett downgraded Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. Citigroup dropped their price target on Macy's from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, UBS Group reduced their price objective on shares of Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Macy's has a consensus rating of "Hold" and an average price target of $14.90.

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.