Quadrant Capital Group LLC Grows Position in Macy’s, Inc. (NYSE:M)

Quadrant Capital Group LLC raised its position in Macy’s, Inc. (NYSE:M) by 76.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,645 shares of the company’s stock after acquiring an additional 2,016 shares during the quarter. Quadrant Capital Group LLC’s holdings in Macy’s were worth $93,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Macy’s by 7.8% during the third 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 period. Deutsche Bank AG boosted its holdings in shares of Macy’s by 260.8% in the 3rd 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 during the last quarter. AQR Capital Management LLC lifted its stake in shares of Macy’s by 48.9% in the 3rd 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. Dimensional Fund Advisors LP boosted its position in Macy’s by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock worth $249,456,000 after purchasing an additional 1,685,986 shares during the period. Finally, Barclays PLC boosted its holdings in Macy’s by 140.0% in the 3rd quarter. Barclays PLC now owns 2,526,523 shares of the company’s stock worth $29,331,000 after acquiring an additional 1,473,923 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analysts Set New Price Targets

M has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, TD Cowen lifted their price target on Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.73.

Macy’s Stock Up 0.6 %

Shares of Macy’s stock opened at $20.18 on Friday. Macy’s, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The stock has a market capitalization of $5.55 billion, a P/E ratio of 672.67 and a beta of 2.16. The company has a quick ratio of 0.39, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $19.45 and a two-hundred day moving average price of $18.56.

Macy’s (NYSE:M) last posted its earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business posted $0.56 EPS. Macy’s’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that Macy’s, Inc. will post 2.74 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.1737 per share. The ex-dividend date is Friday, June 14th. This represents a $0.69 annualized dividend and a yield of 3.44%. Macy’s’s payout ratio is 2,300.00%.

Insider Buying and Selling at Macy’s

In other Macy’s news, Director Jeffrey Gennette sold 30,090 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $591,569.40. Following the completion of the sale, the director now directly owns 1,073,699 shares of the company’s stock, valued at approximately $21,108,922.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Antony Spring sold 14,859 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $291,682.17. Following the sale, the chief executive officer now directly owns 248,897 shares in the company, valued at $4,885,848.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Gennette sold 30,090 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.66, for a total value of $591,569.40. Following the completion of the transaction, the director now owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock valued at $4,405,507 in the last 90 days. 2.77% of the stock is currently owned by insiders.

About Macy’s

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.