12,383 Shares in Macy’s, Inc. (NYSE:M) Purchased by PFG Investments LLC

PFG Investments LLC purchased a new position in shares of Macy’s, Inc. (NYSE:M) during the first quarter, Holdings Channel reports. The fund purchased 12,383 shares of the company’s stock, valued at approximately $156,000.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd increased its holdings in Macy’s by 231.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 66,098 shares of the company’s stock valued at $1,119,000 after buying an additional 46,156 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Macy’s by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company’s stock valued at $56,116,000 after acquiring an additional 419,261 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Macy’s by 23.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 239,569 shares of the company’s stock worth $4,056,000 after purchasing an additional 44,809 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Macy’s in the 4th quarter worth approximately $621,000. Finally, Factorial Partners LLC grew its stake in shares of Macy’s by 61.8% during the 4th quarter. Factorial Partners LLC now owns 110,000 shares of the company’s stock valued at $1,862,000 after buying an additional 42,000 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company’s stock, valued at approximately $4,073,373.92. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tracy M. Preston sold 2,780 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 4,723 shares in the company, valued at $59,887.64. This trade represents a 37.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,092 shares of company stock valued at $305,482. Insiders own 1.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley reissued a “negative” rating on shares of Macy’s in a research note on Tuesday, May 6th. Citigroup reaffirmed a “neutral” rating and set a $12.00 price objective (up previously from $11.00) on shares of Macy’s in a research report on Thursday, May 29th. New Street Research set a $13.00 price target on shares of Macy’s in a research note on Thursday, March 6th. Telsey Advisory Group cut their target price on shares of Macy’s from $15.00 to $14.00 and set a “market perform” rating for the company in a research note on Thursday, May 29th. Finally, Cowen restated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, ten 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.com, the company has a consensus rating of “Hold” and an average price target of $13.20.

Macy’s Stock Performance

NYSE:M opened at $11.16 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $3.03 billion, a PE ratio of 5.66 and a beta of 1.74. The firm’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $13.46. Macy’s, Inc. has a 1 year low of $9.76 and a 1 year high of $20.47.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Macy’s had a net margin of 2.45% and a return on equity of 16.34%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, June 13th. Macy’s’s dividend payout ratio is presently 37.06%.

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.