41,600 Shares in Macy's, Inc. (NYSE:M) Purchased by Toronto Dominion Bank

Toronto Dominion Bank acquired a new stake in shares of Macy's, Inc. (NYSE:M - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,600 shares of the company's stock, valued at approximately $704,000.

A number of other large investors have also recently modified their holdings of the business. Trifecta Capital Advisors LLC bought a new stake in shares of Macy's during the 4th quarter valued at approximately $34,000. Jones Financial Companies Lllp boosted its position in Macy's by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after buying an additional 969 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Macy's during the fourth quarter worth $38,000. Bessemer Group Inc. grew its stake in shares of Macy's by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after buying an additional 2,839 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of Macy's during the fourth quarter worth $111,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Trading Up 1.1%

NYSE M traded up $0.14 during mid-day trading on Friday, reaching $12.08. 2,023,721 shares of the stock were exchanged, compared to its average volume of 6,414,307. The stock has a market cap of $3.36 billion, a P/E ratio of 20.52 and a beta of 1.77. 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, Inc. has a one year low of $9.76 and a one year high of $20.47. The stock has a 50 day simple moving average of $11.73 and a 200-day simple moving average of $14.06.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the company posted $0.27 EPS. The business's quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Friday, June 13th. Macy's's dividend payout ratio (DPR) is 35.44%.

Insider Activity

In other news, EVP Tracy M. Preston sold 2,780 shares of the company'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 transaction, the executive vice president now directly owns 4,723 shares of the company's stock, valued at $59,887.64. This represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total value 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. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock worth $537,790 in the last quarter. 2.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

M has been the topic of several recent research reports. Benchmark raised Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Wall Street Zen raised Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Cowen restated a "hold" rating on shares of Macy's in a report on Friday, March 7th. The Goldman Sachs Group downgraded Macy's from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $17.00 to $12.00 in a research note on Tuesday, April 22nd. Finally, Citigroup reiterated a "neutral" rating and set a $12.00 target price (up from $11.00) on shares of Macy's in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.20.

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.