300,477 Shares in Macy’s, Inc. (NYSE:M) Purchased by Man Group plc

Man Group plc acquired a new position in shares of Macy’s, Inc. (NYSE:M) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 300,477 shares of the company’s stock, valued at approximately $5,087,000. Man Group plc owned approximately 0.11% of Macy’s at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC lifted its stake in shares of Macy’s by 13.8% in the fourth quarter. Nuveen Asset Management LLC now owns 721,044 shares of the company’s stock worth $12,207,000 after buying an additional 87,315 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Macy’s by 29.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,840 shares of the company’s stock worth $1,995,000 after buying an additional 27,156 shares in the last quarter. Invenomic Capital Management LP lifted its stake in shares of Macy’s by 13.1% in the fourth quarter. Invenomic Capital Management LP now owns 900,040 shares of the company’s stock worth $15,238,000 after buying an additional 104,353 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Macy’s in the fourth quarter worth approximately $48,775,000. Finally, Fund 1 Investments LLC bought a new position in shares of Macy’s in the fourth quarter worth approximately $6,401,000. Institutional investors own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In other news, EVP Tracy M. Preston sold 2,780 shares of Macy’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the sale, the executive vice president now directly owns 4,723 shares of the company’s stock, valued at approximately $59,887.64. The trade was a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Adrian V. Mitchell sold 3,489 shares of Macy’s stock in a transaction dated 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 directly owns 116,165 shares in the company, valued at $1,596,107.10. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock valued at $537,790 over the last ninety days. 1.09% of the stock is currently owned by company insiders.

Macy’s Stock Up 0.7%

M opened at $12.10 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 1-year low of $9.76 and a 1-year high of $20.70. The company has a market capitalization of $3.37 billion, a PE ratio of 20.51 and a beta of 1.77. The firm’s 50 day simple moving average is $11.97 and its two-hundred day simple moving average is $14.24.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a yield of 6.03%. Macy’s’s dividend payout ratio is presently 35.44%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on M. The Goldman Sachs Group cut shares of Macy’s from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. Morgan Stanley restated a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. New Street Research set a $13.00 target price on shares of Macy’s in a report on Thursday, March 6th. Cowen restated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Finally, Barclays began coverage on shares of Macy’s in a report on Monday, April 28th. They issued a “cautious” rating and a $12.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.00.

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.