GAMMA Investing LLC Boosts Stake in Macy's, Inc. (NYSE:M)

GAMMA Investing LLC boosted its stake in shares of Macy's, Inc. (NYSE:M - Free Report) by 1,188.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,086 shares of the company's stock after buying an additional 40,665 shares during the period. GAMMA Investing LLC's holdings in Macy's were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy's in the 4th quarter valued at $34,000. Jones Financial Companies Lllp grew its position in Macy's by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Macy's during the 4th quarter valued at about $38,000. Bessemer Group Inc. grew its position in shares of Macy's by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock valued at $58,000 after acquiring an additional 2,839 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in Macy's in the 4th quarter valued at about $111,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Insider Buying and Selling

In other news, EVP Adrian V. Mitchell sold 3,489 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now owns 116,165 shares in the company, valued at $1,596,107.10. This trade represents a 2.92% decrease in their ownership of the stock. The transaction 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 firm's 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 sale, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,751 shares of company stock valued at $537,790 over the last ninety days. Corporate insiders own 1.09% of the company's stock.

Macy's Price Performance

Shares of M opened at $11.07 on Thursday. The firm has a fifty day moving average price of $11.64 and a 200 day moving average price of $13.69. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $20.47. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37. The stock has a market cap of $3.01 billion, a PE ratio of 5.62 and a beta of 1.74.

Macy's (NYSE:M - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The business's revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.1824 per share. The ex-dividend date is Friday, June 13th. This represents a $0.73 annualized dividend and a yield of 6.59%. Macy's's dividend payout ratio is currently 37.06%.

Wall Street Analysts Forecast Growth

M has been the topic of a number of research reports. Cowen reissued a "hold" rating on shares of Macy's in a research note on Friday, March 7th. Barclays began coverage on shares of Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 target price for the company. The Goldman Sachs Group downgraded shares of Macy's from a "buy" rating to a "neutral" rating and dropped their target price for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Finally, Morgan Stanley reiterated a "negative" rating on shares of Macy's in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.

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