Raymond James Financial Inc. Purchases Shares of 36,856 Macy’s, Inc. (NYSE:M)

Raymond James Financial Inc. acquired a new position in Macy’s, Inc. (NYSE:M) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 36,856 shares of the company’s stock, valued at approximately $624,000.

A number of other large investors have also recently made changes to their positions in M. Trifecta Capital Advisors LLC purchased a new position in shares of Macy’s during the fourth quarter valued at about $34,000. Jones Financial Companies Lllp boosted its position 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 acquiring an additional 969 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Macy’s during the 4th quarter worth approximately $38,000. Tompkins Financial Corp bought a new position in shares of Macy’s in the 4th quarter worth approximately $102,000. Finally, Quarry LP purchased a new position in shares of Macy’s in the 3rd quarter valued at approximately $117,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Price Performance

Shares of M opened at $11.36 on Monday. Macy’s, Inc. has a twelve month low of $10.77 and a twelve month high of $20.70. The company has a market capitalization of $3.15 billion, a P/E ratio of 19.25 and a beta of 2.07. The firm has a 50 day moving average of $14.15 and a 200 day moving average of $15.19. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping 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 analyst estimates of $7.76 billion. As a group, equities research analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced 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 positive change 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 yield of 6.43%. Macy’s’s payout ratio is 35.44%.

Analyst Upgrades and Downgrades

M has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. 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. Cowen restated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.30.

Insider Buying and Selling at Macy’s

In related news, EVP Adrian V. Mitchell sold 3,489 shares of Macy’s stock in a transaction 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 sale, the executive vice president now owns 116,165 shares of the company’s stock, valued at $1,596,107.10. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Antony Spring sold 3,124 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $42,923.76. Following the completion of the transaction, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company’s stock.

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.