Greenleaf Trust Invests $288,000 in Macy’s, Inc. (NYSE:M)

Greenleaf Trust purchased a new stake in shares of Macy’s, Inc. (NYSE:M) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,293 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after acquiring an additional 2,645,577 shares during the period. Deutsche Bank AG increased its position in Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after acquiring an additional 1,841,432 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Macy’s by 15.7% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 544,534 shares of the company’s stock valued at $6,322,000 after purchasing an additional 73,924 shares during the period. American Century Companies Inc. grew its position in Macy’s by 20.8% during the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after buying an additional 565,269 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Macy’s during the 4th quarter valued at $6,021,000. Institutional investors own 87.36% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Macy’s news, CEO Antony Spring sold 13,404 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the sale, the chief executive officer now owns 223,286 shares of the company’s stock, valued at $4,559,500.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock valued at $4,405,507 over the last ninety days. 1.52% of the stock is owned by insiders.

Macy’s Stock Performance

NYSE M opened at $18.73 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. Macy’s, Inc. has a 1-year low of $10.54 and a 1-year high of $22.10. The business has a 50 day simple moving average of $19.67 and a two-hundred day simple moving average of $17.42. The stock has a market capitalization of $5.15 billion, a PE ratio of 50.62 and a beta of 2.15.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. On average, research analysts predict that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.1737 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.69 annualized dividend and a yield of 3.71%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is currently 186.49%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on M shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Thursday, March 28th. TD Cowen downgraded shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Morgan Stanley decreased their price target on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Finally, StockNews.com assumed coverage on Macy’s in a research note on Wednesday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.45.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.