Nomura Asset Management Co. Ltd. Purchases 800 Shares of Macy’s, Inc. (NYSE:M)

Nomura Asset Management Co. Ltd. raised its position in Macy’s, Inc. (NYSE:MFree Report) by 13.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,900 shares of the company’s stock after acquiring an additional 800 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Macy’s were worth $139,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Macy’s in the 4th quarter worth about $62,529,000. Vanguard Group Inc. raised its stake in shares of Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Deutsche Bank AG lifted its holdings 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 purchasing an additional 1,841,432 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 valued at $61,211,000 after purchasing an additional 1,730,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Macy’s by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after buying an additional 1,685,986 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on M shares. JPMorgan Chase & Co. increased their price target on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Tuesday, May 21st. TD Cowen boosted their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. The Goldman Sachs Group upped their price objective on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, StockNews.com began coverage on shares of Macy’s in a research report on Monday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.70.

View Our Latest Analysis on M

Insider Buying and Selling at Macy’s

In related news, Director Jeffrey Gennette sold 78,567 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the sale, the director now directly owns 994,301 shares in the company, valued at approximately $20,303,626.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Macy’s news, CEO Antony Spring sold 14,859 shares of Macy’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $291,682.17. Following the completion of the transaction, the chief executive officer now owns 248,897 shares of the company’s stock, valued at approximately $4,885,848.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Gennette sold 78,567 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value 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 have sold a total of 218,424 shares of company stock valued at $4,405,507 over the last three months. 2.77% of the stock is currently owned by insiders.

Macy’s Trading Up 1.8 %

Shares of M stock opened at $19.48 on Monday. The company has a 50 day moving average of $19.33 and a 200-day moving average of $18.94. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a market cap of $5.38 billion, a P/E ratio of 649.33 and a beta of 2.16.

Macy’s (NYSE:MGet Free Report) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. Macy’s had a return on equity of 21.40% and a net margin of 0.05%. Macy’s’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. Sell-side analysts anticipate that Macy’s, Inc. will post 2.75 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, June 14th. Macy’s’s dividend payout ratio is currently 2,300.00%.

About Macy’s

(Free Report)

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.

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Institutional Ownership by Quarter for Macy's (NYSE:M)

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