Macy’s, Inc. (NYSE:M) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Macy’s, Inc. (NYSE:M) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,223,918 shares of the company’s stock after buying an additional 295,928 shares during the period. JPMorgan Chase & Co. owned about 0.44% of Macy’s worth $20,721,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Macy’s by 1.2% in the fourth quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock valued at $1,364,000 after buying an additional 958 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Macy’s by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock valued at $700,000 after acquiring an additional 960 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Macy’s by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 45,105 shares of the company’s stock worth $764,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its holdings in Macy’s by 7.9% in the fourth quarter. Impact Partnership Wealth LLC now owns 16,871 shares of the company’s stock valued at $286,000 after purchasing an additional 1,229 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Price Performance

M stock opened at $11.38 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of 19.28 and a beta of 1.73. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $13.61 and its two-hundred day moving average is $15.01. Macy’s, Inc. has a 52-week low of $9.76 and a 52-week high of $20.70.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.1824 per share. The ex-dividend date was Friday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 6.41%. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on M shares. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $14.00 in a report on Thursday, March 6th. Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Macy’s has an average rating of “Hold” and a consensus target price of $15.30.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 3,124 shares of the firm’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 $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Adrian V. Mitchell sold 3,489 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company’s stock, valued at $1,596,107.10. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 over the last 90 days. 2.77% of the stock is owned by company insiders.

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.