Greenleaf Trust Acquires Shares of 14,293 Macy’s, Inc. (NYSE:M)

Greenleaf Trust bought a new position in shares of Macy’s, Inc. (NYSE:M) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,293 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in M. Vanguard Group Inc. boosted its holdings in Macy’s by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Macy’s by 260.8% in the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock valued at $29,577,000 after acquiring an additional 1,841,432 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Macy’s by 48.9% in the third quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock worth $61,211,000 after acquiring an additional 1,730,307 shares during the last quarter. Barclays PLC increased its position in shares of Macy’s by 140.0% during the third quarter. Barclays PLC now owns 2,526,523 shares of the company’s stock worth $29,331,000 after purchasing an additional 1,473,923 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Macy’s by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock valued at $38,173,000 after purchasing an additional 565,269 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on M. TD Cowen cut shares of Macy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on shares of Macy’s from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. StockNews.com started coverage on shares of Macy’s in a report on Wednesday. They issued a “hold” rating for 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 report on Wednesday, February 28th. Finally, Citigroup raised Macy’s from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.00 to $18.00 in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.45.

Macy’s Trading Down 1.5 %

M opened at $18.73 on Thursday. The stock has a market capitalization of $5.15 billion, a PE ratio of 50.62 and a beta of 2.15. Macy’s, Inc. has a one year low of $10.54 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37. The business’s 50 day moving average price is $19.67 and its 200 day moving average price is $17.42.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The company had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 earnings per share. As a group, equities research analysts expect that Macy’s, Inc. will post 2.57 EPS for the current 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 paid a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Insider Buying and Selling at Macy’s

In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the sale, the chief financial officer now owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Macy’s news, CFO Adrian V. Mitchell sold 13,249 shares of Macy’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the completion of the transaction, the chief financial officer now directly owns 99,098 shares of the company’s stock, valued at approximately $2,023,581.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Gennette sold 78,567 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the sale, the director now owns 994,301 shares in the company, valued at $20,303,626.42. The disclosure for this sale can be found here. Insiders sold a total of 218,424 shares of company stock worth $4,405,507 over the last three months. Insiders own 1.52% of the company’s stock.

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.