Los Angeles Capital Management LLC Buys 321,638 Shares of Macy’s, Inc. (NYSE:M)

Los Angeles Capital Management LLC boosted its position in shares of Macy’s, Inc. (NYSE:M) by 2,964.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 332,488 shares of the company’s stock after buying an additional 321,638 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Macy’s were worth $6,690,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Macy’s during the fourth quarter worth $50,000. Hexagon Capital Partners LLC increased its position in shares of Macy’s by 1,166.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 2,749 shares of the company’s stock worth $55,000 after acquiring an additional 2,532 shares in the last quarter. Fifth Third Bancorp lifted its position in Macy’s by 221.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after acquiring an additional 2,415 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Macy’s by 1,911.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,560 shares of the company’s stock worth $72,000 after purchasing an additional 3,383 shares during the period. 87.36% of the stock is currently owned by institutional investors.

Insider Activity at Macy’s

In related news, SVP Paul Griscom sold 2,969 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Danielle L. Kirgan sold 15,070 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $307,729.40. Following the sale, the executive vice president now owns 306,555 shares of the company’s stock, valued at approximately $6,259,853.10. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock worth $4,405,507 in the last 90 days. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on M shares. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Thursday, March 28th. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $23.00 to $20.00 in a report on Thursday, February 29th. Morgan Stanley cut their price objective on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. StockNews.com initiated coverage on shares of Macy’s in a research report on Thursday. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.45.

Macy’s Stock Up 2.1 %

M stock opened at $19.52 on Friday. Macy’s, Inc. has a 12 month low of $10.54 and a 12 month high of $22.10. The firm has a 50-day moving average price of $19.57 and a 200-day moving average price of $17.79. 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 stock has a market capitalization of $5.37 billion, a P/E ratio of 52.76 and a beta of 2.16.

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

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.56%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s payout ratio is currently 186.49%.

Macy’s Company 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.