Susquehanna Fundamental Investments LLC Buys Shares of 517,399 Macy's, Inc. (NYSE:M)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 517,399 shares of the company's stock, valued at approximately $8,760,000. Susquehanna Fundamental Investments LLC owned 0.19% of Macy's at the end of the most recent reporting period.

Several other large investors have also modified their holdings of M. Virtu Financial LLC purchased a new position in shares of Macy's during the third quarter valued at approximately $594,000. Wilmington Savings Fund Society FSB bought a new position in Macy's in the third quarter worth approximately $221,000. PVG Asset Management Corp purchased a new position in Macy's during the 3rd quarter worth $730,000. Retirement Systems of Alabama raised its position in Macy's by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after purchasing an additional 286,879 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Macy's by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 273,872 shares of the company's stock worth $4,671,000 after buying an additional 10,541 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Price Performance

Shares of NYSE M opened at $11.19 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The company has a market cap of $3.12 billion, a PE ratio of 18.97 and a beta of 1.73. The business has a 50-day simple moving average of $12.78 and a two-hundred day simple moving average of $14.68. Macy's, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $20.70.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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. As a group, equities analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.52%. Macy's's payout ratio is 35.44%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on M shares. The Goldman Sachs Group downgraded Macy's from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. Morgan Stanley set a $14.00 price target on Macy's in a research report on Monday, March 10th. Gordon Haskett downgraded Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $15.00 price target on shares of Macy's in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $14.40.

Insider Buying and Selling

In related news, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now directly owns 4,723 shares in the company, valued at approximately $59,887.64. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Adrian V. Mitchell sold 5,122 shares of Macy's stock in a transaction that occurred on 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 approximately $1,666,370.07. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock valued at $537,790 over the last quarter. 2.77% of the stock is currently owned by company 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.

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