BNP Paribas Financial Markets Raises Stock Position in Macy's, Inc. (NYSE:M)

BNP Paribas Financial Markets lifted its stake in Macy's, Inc. (NYSE:M - Free Report) by 304.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,466,676 shares of the company's stock after acquiring an additional 1,104,168 shares during the quarter. BNP Paribas Financial Markets owned 0.53% of Macy's worth $24,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. HB Wealth Management LLC grew its position in Macy's by 724.1% during the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company's stock valued at $1,754,000 after buying an additional 91,015 shares during the period. SG Americas Securities LLC boosted its stake in shares of Macy's by 1,076.9% during the 4th quarter. SG Americas Securities LLC now owns 178,778 shares of the company's stock worth $3,027,000 after acquiring an additional 163,587 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Macy's by 155.8% during 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 acquiring an additional 49,715 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Macy's by 14.5% in 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 purchasing an additional 419,261 shares in the last quarter. Finally, KBC Group NV raised its holdings in Macy's by 47.4% in the 4th quarter. KBC Group NV now owns 11,718 shares of the company's stock worth $198,000 after purchasing an additional 3,766 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

M has been the subject of a number of analyst reports. The Goldman Sachs Group cut Macy's from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. UBS Group dropped their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 7th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, New Street Research set a $13.00 target price on shares of Macy's in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.00.

Macy's Price Performance

Shares of NYSE:M traded down $0.13 during mid-day trading on Friday, reaching $11.66. The stock had a trading volume of 2,764,802 shares, compared to its average volume of 6,315,005. The business's 50 day moving average price is $12.19 and its 200 day moving average price is $14.39. Macy's, Inc. has a 1 year low of $9.76 and a 1 year high of $20.70. The company has a market cap of $3.25 billion, a P/E ratio of 19.76 and a beta of 1.77. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. Research analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.26%. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's dividend payout ratio is currently 35.44%.

Insider Activity at Macy's

In other Macy's news, EVP Tracy M. Preston sold 2,780 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the completion of the transaction, the executive vice president now owns 4,723 shares in the company, valued at $59,887.64. The trade was a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Adrian V. Mitchell sold 3,489 shares of the company's stock in a transaction that occurred on 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 directly owns 116,165 shares in the company, valued at approximately $1,596,107.10. This represents 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 valued at $537,790. 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.