Clearline Capital LP Invests $4.28 Million in Macy's, Inc. (NYSE:M)

Clearline Capital LP acquired a new position in Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 253,069 shares of the company's stock, valued at approximately $4,284,000. Clearline Capital LP owned 0.09% of Macy's as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Macy's in the third quarter worth about $221,000. Nordea Investment Management AB raised its holdings in Macy's by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 273,872 shares of the company's stock worth $4,671,000 after acquiring an additional 10,541 shares during the last quarter. Range Financial Group LLC purchased a new stake in Macy's during the 4th quarter valued at $285,000. Wedmont Private Capital boosted its stake in Macy's by 17.2% during the 4th quarter. Wedmont Private Capital now owns 22,141 shares of the company's stock valued at $351,000 after purchasing an additional 3,254 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Macy's by 65.5% in the fourth quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company's stock worth $126,000 after purchasing an additional 2,967 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Insider Activity at Macy's

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the transaction, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Antony Spring sold 3,124 shares of Macy's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following 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 represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,751 shares of company stock valued at $537,790. Insiders own 1.09% of the company's stock.

Macy's Price Performance

Shares of NYSE:M traded up $0.03 during trading on Tuesday, hitting $12.37. 2,955,705 shares of the company's stock were exchanged, compared to its average volume of 6,309,412. The business's 50-day simple moving average is $12.17 and its 200 day simple moving average is $14.37. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 20.97 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. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts predict 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 given a $0.1824 dividend. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend was Friday, March 14th. Macy's's payout ratio is currently 35.44%.

Wall Street Analysts Forecast Growth

M has been the topic of several research analyst reports. New Street Research set a $13.00 target price on shares of Macy's in a research note on Thursday, March 6th. Barclays initiated coverage on shares of Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. Cowen restated a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Benchmark raised Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Morgan Stanley reissued a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. 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, Macy's currently has an average rating of "Hold" and an average price target of $14.00.

Macy's Company 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.