DGS Capital Management LLC Buys New Position in Macy’s, Inc. (NYSE:M)

DGS Capital Management LLC bought a new stake in shares of Macy’s, Inc. (NYSE:M) during the 4th quarter, Holdings Channel reports. The institutional investor bought 20,809 shares of the company’s stock, valued at approximately $419,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Holocene Advisors LP grew its stake in Macy’s by 171.1% during the 2nd quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock valued at $89,603,000 after purchasing an additional 3,523,368 shares during the last quarter. Vanguard Group Inc. grew its stake in Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Macy’s by 196.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock valued at $71,309,000 after purchasing an additional 2,287,287 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock valued at $246,184,000 after purchasing an additional 2,155,936 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Macy’s by 126.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,796,764 shares of the company’s stock valued at $92,489,000 after purchasing an additional 2,118,174 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley lowered their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and cut their target price for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. JPMorgan Chase & Co. boosted their target price on Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, StockNews.com started coverage on Macy’s in a research report on Tuesday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.45.

Insider Buying and Selling at Macy’s

In other Macy’s news, CEO Antony Spring sold 14,859 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $291,682.17. Following the completion of the transaction, the chief executive officer now directly owns 248,897 shares of the company’s stock, valued at $4,885,848.11. The sale was disclosed in a filing with the SEC, which is available at this link. In other Macy’s news, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.63, for a total value of $291,682.17. Following the transaction, the chief executive officer now owns 248,897 shares in the company, valued at approximately $4,885,848.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adrian V. Mitchell sold 13,279 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the sale, the chief financial officer now directly owns 120,457 shares of the company’s stock, valued at approximately $2,364,570.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,424 shares of company stock valued at $4,405,507. Corporate insiders own 1.52% of the company’s stock.

Macy’s Stock Up 0.6 %

Macy’s stock opened at $19.00 on Wednesday. Macy’s, Inc. has a twelve month low of $10.54 and a twelve month high of $22.10. The stock’s fifty day simple moving average is $19.70 and its 200-day simple moving average is $17.14. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.21 billion, a P/E ratio of 51.35 and a beta of 2.15.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, equities analysts expect that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.1737 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.66%. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.