Man Group plc Invests $5.09 Million in Macy's, Inc. (NYSE:M)

Man Group plc bought a new stake in Macy's, Inc. (NYSE:M - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 300,477 shares of the company's stock, valued at approximately $5,087,000. Man Group plc owned approximately 0.11% of Macy's as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Nuveen Asset Management LLC raised its position in Macy's by 13.8% during the 4th quarter. Nuveen Asset Management LLC now owns 721,044 shares of the company's stock worth $12,207,000 after purchasing an additional 87,315 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Macy's by 29.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,840 shares of the company's stock worth $1,995,000 after buying an additional 27,156 shares during the period. Invenomic Capital Management LP lifted its holdings in Macy's by 13.1% during the 4th quarter. Invenomic Capital Management LP now owns 900,040 shares of the company's stock worth $15,238,000 after buying an additional 104,353 shares during the period. Junto Capital Management LP acquired a new position in Macy's during the 4th quarter worth about $48,775,000. Finally, Fund 1 Investments LLC acquired a new position in Macy's during the 4th quarter worth about $6,401,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Insider Buying and Selling at Macy's

In other Macy's news, CEO Antony Spring sold 20,868 shares of Macy's stock in a transaction dated Monday, March 31st. The stock was 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 in the company, valued at approximately $4,073,373.92. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy M. Preston sold 2,780 shares of Macy's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $35,250.40. Following the transaction, the executive vice president now owns 4,723 shares of the company's stock, valued at $59,887.64. This trade represents a 37.05% 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. Insiders own 1.09% of the company's stock.

Analyst Upgrades and Downgrades

M has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on Macy's from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Benchmark raised Macy's to a "strong-buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group downgraded Macy's from a "buy" rating to a "neutral" rating and cut their target price for the stock from $17.00 to $12.00 in a report on Tuesday, April 22nd. Barclays assumed coverage on Macy's in a research report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective for the company. Finally, New Street Research set a $13.00 price objective on Macy's in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $13.30.

Macy's Stock Down 2.9%

Macy's stock traded down $0.34 during midday trading on Friday, reaching $11.58. The stock had a trading volume of 6,889,520 shares, compared to its average volume of 6,303,016. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $20.70. The company has a market capitalization of $3.23 billion, a P/E ratio of 19.63 and a beta of 1.77. The company has a fifty day moving average price of $11.90 and a two-hundred day moving average price of $14.20. 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 earnings results on Thursday, March 6th. The company reported $1.80 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 business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, equities analysts expect that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's payout ratio is 35.44%.

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.