2,880,986 Shares in Macy’s, Inc. (NYSE:M) Purchased by Junto Capital Management LP

Junto Capital Management LP bought a new stake in shares of Macy’s, Inc. (NYSE:M) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,880,986 shares of the company’s stock, valued at approximately $48,775,000. Junto Capital Management LP owned approximately 1.04% of Macy’s as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in Macy’s by 4.0% during the 4th quarter. Nordea Investment Management AB now owns 273,872 shares of the company’s stock valued at $4,671,000 after purchasing an additional 10,541 shares in the last quarter. Wedmont Private Capital increased its position in shares of Macy’s by 17.2% during the fourth quarter. Wedmont Private Capital now owns 22,141 shares of the company’s stock valued at $351,000 after acquiring an additional 3,254 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in Macy’s by 65.5% in the 4th quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company’s stock worth $126,000 after acquiring an additional 2,967 shares during the last quarter. Lind Value II ApS bought a new position in Macy’s in the 4th quarter valued at approximately $6,733,000. Finally, Tompkins Financial Corp bought a new position in Macy’s in the 4th quarter valued at approximately $102,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Macy’s from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. UBS Group lowered their target price on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Cowen restated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Finally, Citigroup cut their target price on shares of Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

Macy’s Stock Performance

NYSE:M opened at $11.66 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The stock has a 50-day simple moving average of $12.19 and a two-hundred day simple moving average of $14.39. The firm has a market capitalization of $3.25 billion, a PE ratio of 19.76 and a beta of 1.77. Macy’s, Inc. has a 52-week low of $9.76 and a 52-week high of $20.70.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.1824 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 6.26%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is currently 35.44%.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 20,868 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the completion of the transaction, the chief executive officer now owns 321,244 shares of the company’s stock, valued at $4,073,373.92. This represents a 6.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares of the company’s stock, valued at approximately $1,596,107.10. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,751 shares of company stock worth $537,790. Corporate insiders own 2.77% of the company’s stock.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.