DRW Securities LLC Acquires New Shares in Macy's, Inc. (NYSE:M)

DRW Securities LLC acquired a new position in Macy's, Inc. (NYSE:M - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,336 shares of the company's stock, valued at approximately $615,000.

A number of other institutional investors have also recently bought and sold shares of M. Trifecta Capital Advisors LLC purchased a new position in Macy's in the 4th quarter valued at approximately $34,000. Jones Financial Companies Lllp grew its position in shares of Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after purchasing an additional 969 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Macy's during the 4th quarter worth about $38,000. Tompkins Financial Corp bought a new position in Macy's in the 4th quarter worth about $102,000. Finally, Vestcor Inc bought a new stake in shares of Macy's during the fourth quarter valued at about $115,000. Institutional investors own 87.36% of the company's stock.

Insider Activity at Macy's

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares in the company, valued at approximately $59,887.64. The trade was a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 value 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 approximately $3,746,623.20. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock worth $537,790 over the last ninety days. 2.77% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several equities analysts recently commented on M shares. Telsey Advisory Group reaffirmed a "market perform" rating and set a $15.00 price objective on shares of Macy's in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target on Macy's from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday. Morgan Stanley set a $14.00 price objective on shares of Macy's in a research note on Monday, March 10th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group cut their price target on shares of Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Macy's presently has a consensus rating of "Hold" and a consensus price target of $15.20.

Macy's Trading Up 0.1 %

Shares of M stock traded up $0.01 during trading hours on Tuesday, reaching $11.33. The company's stock had a trading volume of 1,632,522 shares, compared to its average volume of 6,172,179. 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 one year low of $9.76 and a one year high of $20.70. The stock has a market capitalization of $3.16 billion, a P/E ratio of 19.20 and a beta of 1.73. The firm's fifty day simple moving average is $13.46 and its 200 day simple moving average is $14.96.

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

Macy's Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.44%. 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. Macy's's dividend payout ratio (DPR) is presently 35.44%.

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.