Fmr LLC Increases Stake in Macy's, Inc. (NYSE:M)

FMR LLC increased its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 59.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,503,742 shares of the company's stock after buying an additional 2,812,151 shares during the period. FMR LLC owned 2.70% of Macy's worth $127,038,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Virtu Financial LLC bought a new position in Macy's during the third quarter worth about $594,000. HB Wealth Management LLC grew its position in Macy's by 724.1% during the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock worth $1,754,000 after buying an additional 91,015 shares in the last quarter. Retirement Systems of Alabama increased its stake in Macy's by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock worth $12,276,000 after acquiring an additional 286,879 shares during the period. SG Americas Securities LLC raised its holdings in Macy's by 1,076.9% in the 4th quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock valued at $3,027,000 after acquiring an additional 163,587 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Macy's by 155.8% during the 4th quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company's stock valued at $1,381,000 after acquiring an additional 49,715 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Insider Activity

In related news, EVP Adrian V. Mitchell sold 3,489 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 $47,938.86. Following the sale, the executive vice president now owns 116,165 shares in the company, valued at approximately $1,596,107.10. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the sale, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,751 shares of company stock worth $537,790. 2.77% of the stock is owned by corporate insiders.

Macy's Trading Up 1.0 %

Shares of NYSE M traded up $0.12 during trading on Friday, reaching $11.13. The company had a trading volume of 5,510,570 shares, compared to its average volume of 6,189,274. The company's fifty day moving average price is $13.19 and its 200-day moving average price is $14.84. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $20.70. The stock has a market cap of $3.10 billion, a P/E ratio of 18.86 and a beta of 1.73. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy's (NYSE:M - Get Free Report) last announced 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. 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 the consensus estimate of $7.76 billion. As a group, research analysts expect that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 6.56%. This is a positive change from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's payout ratio is currently 35.44%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on M shares. Benchmark raised Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $15.00 price target on shares of Macy's in a report on Wednesday, April 2nd. Citigroup decreased their price objective on shares of Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Cowen restated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Macy's presently has an average rating of "Hold" and a consensus price target of $14.90.

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.