JPMorgan Chase & Co. Acquires 295,928 Shares of Macy's, Inc. (NYSE:M)

JPMorgan Chase & Co. lifted its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,918 shares of the company's stock after acquiring an additional 295,928 shares during the period. JPMorgan Chase & Co. owned approximately 0.44% of Macy's worth $20,721,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Cowen reiterated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Citigroup reduced their price target on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Benchmark upgraded shares of Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.20.

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Macy's Price Performance

NYSE:M traded down $0.13 during trading hours on Tuesday, hitting $11.19. The stock had a trading volume of 2,590,610 shares, compared to its average volume of 7,394,383. The company has a 50 day simple moving average of $13.46 and a two-hundred day simple moving average of $14.96. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.97 and a beta of 1.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy's, Inc. has a one year low of $9.76 and a one year high of $20.70.

Macy's (NYSE:M - Get Free Report) last announced its earnings results 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. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. Research analysts forecast that Macy's, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy's Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1824 per share. This is an increase 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 6.52%. The ex-dividend date of this dividend was Friday, March 14th. Macy's's payout ratio is currently 35.44%.

Insider Activity at Macy's

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now directly owns 116,165 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 272,680 shares in the company, valued at approximately $3,746,623.20. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock valued at $537,790 over the last 90 days. 2.77% of the stock is owned by insiders.

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.