Junto Capital Management LP Takes $48.78 Million Position in Macy's, Inc. (NYSE:M)

Junto Capital Management LP acquired a new stake in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 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 SEC filing.

Several other hedge funds also recently modified their holdings of the stock. HB Wealth Management LLC grew its position in Macy's by 724.1% in the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock valued at $1,754,000 after purchasing an additional 91,015 shares during the period. SG Americas Securities LLC grew its position in Macy's by 1,076.9% in the 4th quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock valued at $3,027,000 after purchasing an additional 163,587 shares during the period. State of Alaska Department of Revenue grew its position in Macy's by 155.8% in the 4th quarter. State of Alaska Department of Revenue now owns 81,626 shares of the company's stock valued at $1,381,000 after purchasing an additional 49,715 shares during the period. Bank of New York Mellon Corp boosted its holdings in Macy's by 14.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,314,572 shares of the company's stock worth $56,116,000 after acquiring an additional 419,261 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Macy's by 47.4% during the 4th quarter. KBC Group NV now owns 11,718 shares of the company's stock worth $198,000 after acquiring an additional 3,766 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Insider Buying and Selling at Macy's

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares of the company's stock, valued at approximately $59,887.64. The trade was a 37.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Spring sold 3,124 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the completion of the transaction, the chief executive officer now directly owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This trade represents a 1.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,751 shares of company stock valued at $537,790. 1.09% of the stock is currently owned by company insiders.

Macy's Trading Down 2.7%

Shares of Macy's stock traded down $0.33 on Wednesday, hitting $12.09. The stock had a trading volume of 5,428,593 shares, compared to its average volume of 6,340,902. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy's, Inc. has a one year low of $9.76 and a one year high of $20.70. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 20.49 and a beta of 1.77. The stock's 50-day simple moving average is $12.11 and its two-hundred day simple moving average is $14.34.

Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping 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 analyst estimates of $7.76 billion. As a group, sell-side analysts predict that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 6.03%. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio (DPR) is currently 35.44%.

Analysts Set New Price Targets

Several analysts have commented on M shares. Morgan Stanley reaffirmed a "negative" rating on shares of Macy's in a research report on Tuesday, May 6th. Benchmark raised shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Citigroup decreased their price target on Macy's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. New Street Research set a $13.00 price target on Macy's in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group cut shares of Macy's from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.00.

Macy's Profile

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.