Quinn Opportunity Partners LLC Buys 206,110 Shares of Macy's, Inc. (NYSE:M)

Quinn Opportunity Partners LLC increased its position in shares of Macy's, Inc. (NYSE:M - Free Report) by 165.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 330,470 shares of the company's stock after acquiring an additional 206,110 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.12% of Macy's worth $5,595,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of M. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy's during the 4th quarter valued at $34,000. Jones Financial Companies Lllp increased its holdings in Macy's by 82.1% during the 4th 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 during the period. Kestra Investment Management LLC bought a new position in Macy's during the 4th quarter valued at approximately $38,000. Bessemer Group Inc. lifted its holdings in Macy's by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after buying an additional 2,839 shares during the period. Finally, Tompkins Financial Corp bought a new position in shares of Macy's during the fourth quarter valued at approximately $102,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

M has been the topic of a number of research reports. The Goldman Sachs Group cut their target price on shares of Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Morgan Stanley set a $14.00 target price on Macy's in a research note on Monday, March 10th. Citigroup decreased their price objective on Macy's from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, March 7th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, New Street Research set a $13.00 price target on shares of Macy's in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Macy's has a consensus rating of "Hold" and a consensus target price of $15.20.

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Macy's Stock Performance

Shares of M stock traded down $0.11 on Tuesday, reaching $11.22. The stock had a trading volume of 5,040,910 shares, compared to its average volume of 6,185,317. The stock has a market cap of $3.12 billion, a P/E ratio of 19.01 and a beta of 1.73. 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, Inc. has a 1 year low of $9.76 and a 1 year high of $20.70. The company has a 50 day simple moving average of $13.46 and a 200 day simple moving average of $14.96.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results 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 business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.1824 dividend. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 6.51%. Macy's's dividend payout ratio is presently 35.44%.

Insiders Place Their Bets

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 shares of the company'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 $47,938.86. Following the completion of the transaction, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Antony Spring sold 3,124 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock worth $537,790 over the last quarter. 2.77% of the stock is currently owned by corporate 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.