Macy's, Inc. (NYSE:M) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 883,400 shares of the company's stock after acquiring an additional 233,200 shares during the period. Canada Pension Plan Investment Board owned about 0.32% of Macy's worth $14,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of M. MML Investors Services LLC acquired a new position in shares of Macy's in the third quarter worth about $193,000. Virtu Financial LLC acquired a new position in Macy's in the 3rd quarter worth about $594,000. Wilmington Savings Fund Society FSB purchased a new position in Macy's during the third quarter worth approximately $221,000. PVG Asset Management Corp acquired a new stake in Macy's in the third quarter valued at approximately $730,000. Finally, Retirement Systems of Alabama increased its position in shares of Macy's by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after buying an additional 286,879 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on M. New Street Research set a $13.00 price target on shares of Macy's in a research note on Thursday, March 6th. UBS Group dropped their target price 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. Morgan Stanley set a $14.00 price target on shares of Macy's in a research report on Monday, March 10th. Benchmark upgraded Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group cut Macy's from a "buy" rating to a "neutral" rating and reduced their target price for the company from $17.00 to $12.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.40.

Macy's Trading Up 2.0 %

Shares of NYSE M traded up $0.22 during trading on Thursday, hitting $11.02. 7,934,435 shares of the company were exchanged, compared to its average volume of 6,216,665. Macy's, Inc. has a 12-month low of $9.76 and a 12-month high of $20.70. The firm has a market capitalization of $3.07 billion, a PE ratio of 18.68 and a beta of 1.73. The company has a fifty day moving average price of $12.94 and a 200-day moving average price of $14.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share 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 analysts' expectations of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities research analysts expect that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.1824 dividend. This is a positive change from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.62%. The ex-dividend date was Friday, March 14th. Macy's's payout ratio is 35.44%.

Insider Buying and Selling at Macy's

In related news, EVP Adrian V. Mitchell sold 3,489 shares of the business's 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. The trade was a 2.92 % decrease in their position. The transaction 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 dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the transaction, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $537,790 over the last 90 days. 2.77% of the stock is owned by insiders.

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.