Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Macy’s, Inc. (NYSE:M)

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Macy’s, Inc. (NYSE:MFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,038 shares of the company’s stock, valued at approximately $493,000.

Several other institutional investors have also recently bought and sold shares of M. Lindbrook Capital LLC boosted its position in shares of Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after buying an additional 944 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Macy’s by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock worth $41,000 after acquiring an additional 2,415 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Macy’s in the fourth quarter valued at about $50,000. Covestor Ltd lifted its position in shares of Macy’s by 25.5% during the third quarter. Covestor Ltd now owns 4,763 shares of the company’s stock valued at $55,000 after purchasing an additional 969 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Macy’s by 1,166.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock worth $55,000 after purchasing an additional 2,532 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Price Performance

NYSE M opened at $20.12 on Thursday. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.54 billion, a PE ratio of 54.38 and a beta of 2.16. Macy’s, Inc. has a 52 week low of $10.54 and a 52 week high of $22.10. The firm’s 50-day simple moving average is $19.50 and its two-hundred day simple moving average is $18.49.

Macy’s (NYSE:MGet Free Report) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted $0.56 EPS. Macy’s’s revenue was down 2.7% compared to the same quarter last year. Research analysts predict that Macy’s, Inc. will post 2.54 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, June 14th. Macy’s’s dividend payout ratio is presently 186.49%.

Insider Buying and Selling at Macy’s

In other Macy’s news, EVP Danielle L. Kirgan sold 15,070 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the sale, the executive vice president now owns 306,555 shares of the company’s stock, valued at approximately $6,259,853.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Danielle L. Kirgan sold 15,070 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $307,729.40. Following the transaction, the executive vice president now owns 306,555 shares of the company’s stock, valued at approximately $6,259,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $291,682.17. Following the sale, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The disclosure for this sale can be found here. Insiders sold a total of 218,424 shares of company stock valued at $4,405,507 in the last three months. Company insiders own 2.77% of the company’s stock.

Wall Street Analyst Weigh In

M has been the topic of several recent analyst reports. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $18.00 in a research report on Friday, February 2nd. TD Cowen boosted their price objective on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley lowered their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.73.

View Our Latest Research Report on Macy’s

About Macy’s

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding M? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macy’s, Inc. (NYSE:MFree Report).

Institutional Ownership by Quarter for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.