ExodusPoint Capital Management LP Boosts Stock Holdings in Macy's, Inc. (NYSE:M)

ExodusPoint Capital Management LP lifted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 229.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,141 shares of the company's stock after purchasing an additional 279,394 shares during the quarter. ExodusPoint Capital Management LP owned 0.14% of Macy's worth $6,791,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new stake in shares of Macy's in the third quarter valued at about $168,000. Quarry LP acquired a new stake in shares of Macy's in the third quarter valued at approximately $117,000. XTX Topco Ltd acquired a new position in shares of Macy's in the third quarter valued at $503,000. MML Investors Services LLC bought a new stake in shares of Macy's during the third quarter worth approximately $193,000. Finally, MidWestOne Financial Group Inc. grew its position in shares of Macy's by 45.8% in the third quarter. MidWestOne Financial Group Inc. now owns 118,479 shares of the company's stock valued at $1,859,000 after purchasing an additional 37,218 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cowen reaffirmed a "hold" rating on shares of Macy's in a report on Friday, March 7th. Telsey Advisory Group restated a "market perform" rating and set a $15.00 target price on shares of Macy's in a research report on Wednesday, April 2nd. StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley set a $14.00 price target on Macy's in a research report on Monday, March 10th. Finally, Guggenheim reissued a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. 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. Based on data from MarketBeat, Macy's presently has a consensus rating of "Hold" and a consensus target price of $15.30.

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Macy's Price Performance

NYSE M traded down $0.51 during trading on Monday, hitting $10.87. 11,491,440 shares of the company's stock were exchanged, compared to its average volume of 6,135,595. The company has a market cap of $3.03 billion, a PE ratio of 18.42 and a beta of 1.73. 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 fifty-two week low of $10.56 and a fifty-two week high of $20.70. The stock's 50 day moving average price is $14.06 and its two-hundred day moving average price is $15.15.

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 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 business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Research analysts expect that Macy's, Inc. will post 2.39 EPS for the current 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. The ex-dividend date was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 6.71%. This is a boost from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio is 35.44%.

Insider Buying and Selling

In other news, CEO Antony Spring sold 20,868 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the sale, the chief executive officer now directly owns 321,244 shares of the company's stock, valued at $4,073,373.92. The trade was a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Adrian V. Mitchell sold 5,122 shares of Macy's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $65,407.94. Following the transaction, the executive vice president now owns 130,491 shares of the company's stock, valued at $1,666,370.07. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock valued at $537,790 over the last 90 days. Company insiders own 2.77% of the company's stock.

Macy's 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.