309,043 Shares in Macy’s, Inc. (NYSE:M) Bought by Twinbeech Capital LP

Twinbeech Capital LP purchased a new position in shares of Macy’s, Inc. (NYSE:M) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 309,043 shares of the company’s stock, valued at approximately $5,232,000.

A number of other large investors have also recently bought and sold shares of the business. Toronto Dominion Bank acquired a new stake in shares of Macy’s in the 4th quarter worth $704,000. Shellback Capital LP lifted its stake in shares of Macy’s by 200.0% in the 4th quarter. Shellback Capital LP now owns 300,000 shares of the company’s stock worth $5,079,000 after acquiring an additional 200,000 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Macy’s in the 4th quarter worth $111,000. ProShare Advisors LLC lifted its stake in shares of Macy’s by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company’s stock worth $220,000 after acquiring an additional 924 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Macy’s by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company’s stock worth $1,736,000 after acquiring an additional 872 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

M has been the subject of several recent analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $15.00 target price on shares of Macy’s in a research note on Wednesday, April 2nd. Morgan Stanley restated a “negative” rating on shares of Macy’s in a research note on Tuesday, May 6th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup reduced their target price on shares of Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, Gordon Haskett cut shares of Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Macy’s Stock Up 0.7%

Shares of NYSE M opened at $12.10 on Wednesday. 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, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70. The firm has a 50-day moving average price of $11.97 and a 200 day moving average price of $14.24. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 20.51 and a beta of 1.77.

Macy’s (NYSE:M) last announced its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. The company had revenue of $7.77 billion during 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%. Equities research analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Dividend Announcement

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

Insider Transactions at Macy’s

In other Macy’s news, EVP Adrian V. Mitchell sold 5,122 shares of Macy’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $12.77, for a total value of $65,407.94. Following the completion of the sale, the executive vice president now directly owns 130,491 shares of the company’s stock, valued at approximately $1,666,370.07. The trade was a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of Macy’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the sale, the chief executive officer now directly owns 272,680 shares of the company’s stock, valued at $3,746,623.20. The trade was a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 in the last ninety days. Corporate insiders own 1.09% of the company’s stock.

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.