Canada Pension Plan Investment Board Grows Position in Macy's, Inc. $M

Key Points

• The Canada Pension Plan Investment Board increased its stake in Macy's, Inc. by 8.2%, owning approximately 955,800 shares worth $12 million as of the latest SEC filing.
• Several institutional investors, including ProShare Advisors LLC and US Bancorp DE, also raised their positions in Macy's, with institutional ownership now at 87.36%.
• Macy's recently declared a quarterly dividend of $0.1824 per share, resulting in an annualized yield of 5.5%.

Canada Pension Plan Investment Board lifted its position in Macy's, Inc. (NYSE:M - Free Report) by 8.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 955,800 shares of the company's stock after purchasing an additional 72,400 shares during the period. Canada Pension Plan Investment Board owned about 0.34% of Macy's worth $12,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in M. Quantinno Capital Management LP grew its holdings in Macy's by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company's stock worth $1,736,000 after acquiring an additional 872 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Macy's by 7.7% in the fourth quarter. ProShare Advisors LLC now owns 12,978 shares of the company's stock worth $220,000 after purchasing an additional 924 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Macy's by 0.5% in the first quarter. Crossmark Global Holdings Inc. now owns 205,492 shares of the company's stock worth $2,581,000 after purchasing an additional 959 shares during the last quarter. Factorial Partners LLC increased its holdings in Macy's by 0.9% during the 1st quarter. Factorial Partners LLC now owns 111,000 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,000 shares during the period. Finally, US Bancorp DE raised its position in Macy's by 6.7% during the 1st quarter. US Bancorp DE now owns 19,624 shares of the company's stock valued at $246,000 after purchasing an additional 1,227 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on M shares. Citigroup reiterated a "neutral" rating and issued a $12.00 price objective (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Telsey Advisory Group reiterated a "market perform" rating and issued a $14.00 price target on shares of Macy's in a report on Wednesday, August 27th. Morgan Stanley restated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Macy's from $12.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.22.

Macy's Stock Performance

Shares of Macy's stock opened at $13.24 on Tuesday. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The firm has a market capitalization of $3.59 billion, a P/E ratio of 6.72 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $12.56 and a two-hundred day simple moving average of $12.44.

Macy's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Monday, September 15th. Macy's's dividend payout ratio (DPR) is 37.06%.

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.

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