ExodusPoint Capital Management LP Has $6.79 Million Stock Position in Macy’s, Inc. (NYSE:M)

ExodusPoint Capital Management LP boosted its stake in shares of Macy’s, Inc. (NYSE:M) by 229.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 401,141 shares of the company’s stock after buying an additional 279,394 shares during the period. ExodusPoint Capital Management LP’s holdings in Macy’s were worth $6,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arizona State Retirement System boosted its position in shares of Macy’s by 1.2% in the fourth quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock worth $1,364,000 after buying an additional 958 shares during the period. Pacer Advisors Inc. lifted its stake in Macy’s by 2.4% in the 4th quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock worth $700,000 after acquiring an additional 960 shares in the last quarter. 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 worth $36,000 after acquiring an additional 969 shares during the period. Commonwealth Equity Services LLC grew its stake in Macy’s by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 45,105 shares of the company’s stock valued at $764,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in shares of Macy’s by 7.9% in the 4th 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 during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 0.5 %

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

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

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.1824 dividend. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 6.43%. The ex-dividend date was Friday, March 14th. Macy’s’s dividend payout ratio (DPR) is currently 35.44%.

Insider Transactions at Macy’s

In other news, EVP Tracy M. Preston sold 2,780 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares of the company’s stock, valued at approximately $59,887.64. This represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the executive vice president now directly owns 116,165 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 41,751 shares of company stock worth $537,790. Company insiders own 2.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on M. Morgan Stanley set a $14.00 price target on shares of Macy’s in a report on Monday, March 10th. UBS Group decreased their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 7th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. New Street Research set a $13.00 price objective on Macy’s in a research report on Thursday, March 6th. Finally, Citigroup cut their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.30.

Macy’s 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.