Spark Investment Management LLC Acquires New Stake in Macy’s Inc (M)

Spark Investment Management LLC acquired a new stake in Macy’s Inc (NYSE:M) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 72,500 shares of the company’s stock, valued at approximately $1,742,000.

Several other large investors have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its position in shares of Macy’s by 2,958.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,681,203 shares of the company’s stock valued at $224,000 after buying an additional 6,462,771 shares during the last quarter. Norges Bank purchased a new position in shares of Macy’s in the 4th quarter valued at $96,799,000. Vanguard Group Inc grew its position in shares of Macy’s by 6.5% in the 3rd quarter. Vanguard Group Inc now owns 35,205,128 shares of the company’s stock valued at $1,222,675,000 after buying an additional 2,133,597 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Macy’s by 290.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,597,586 shares of the company’s stock valued at $90,214,000 after buying an additional 1,932,030 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Macy’s by 102.6% in the 1st quarter. SG Americas Securities LLC now owns 47,983 shares of the company’s stock valued at $1,153,000 after buying an additional 1,906,263 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors.

In other news, Chairman Jeffrey Gennette bought 5,000 shares of Macy’s stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $21.96 per share, for a total transaction of $109,800.00. Following the purchase, the chairman now owns 102,525 shares of the company’s stock, valued at $2,251,449. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joyce M. Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $24.30, for a total transaction of $243,000.00. Following the completion of the sale, the director now owns 13,647 shares of the company’s stock, valued at approximately $331,622.10. The disclosure for this sale can be found here. Insiders sold a total of 16,921 shares of company stock valued at $421,238 in the last 90 days. Company insiders own 0.55% of the company’s stock.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Macy’s from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Standpoint Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. ValuEngine cut shares of Macy’s from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 28th. Jefferies Financial Group reiterated a “hold” rating and set a $27.00 price target on shares of Macy’s in a research note on Wednesday, February 27th. Finally, Goldman Sachs Group upgraded shares of Macy’s from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $21.00 in a research note on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.10.

NYSE:M traded down $0.12 during trading hours on Tuesday, reaching $21.46. 6,109,426 shares of the company’s stock were exchanged, compared to its average volume of 9,715,053. The stock has a market cap of $6.69 billion, a P/E ratio of 5.13, a P/E/G ratio of 0.83 and a beta of 0.41. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.42. Macy’s Inc has a 1-year low of $21.08 and a 1-year high of $41.99.

Macy’s (NYSE:M) last released its earnings results on Wednesday, May 15th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. Macy’s had a net margin of 4.43% and a return on equity of 20.66%. The company had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the business earned $0.48 EPS. The business’s revenue was down .7% on a year-over-year basis. Sell-side analysts expect that Macy’s Inc will post 3.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Thursday, June 13th. Macy’s’s dividend payout ratio (DPR) is presently 36.12%.

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Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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

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